Gantry Buys Westcap to Snag $3.2B Loan Servicing Portfolio

Gantry has bought Irvine-based loan servicing company Westcap for an undisclosed price, and will dissolve the name.

The San Francisco-based commercial mortgage banking firm acquired Westcap for its $3.2 billion loan servicing portfolio, which has 250 loans, the Orange County Business Journal reported.

Gantry will close the Westcap headquarters at 9960 Irvine Center Drive in Irvine and move its employees to Gantry’s Orange County office located at 19600 Fairchild Road.

Westcap co-founder and Managing Director Steve Beck, Executive Vice President Steve Bridges and Director Topher Van Mourick will keep their roles to ensure a smooth transition. The Westcap name will be retired, with all loans under the Gantry banner.

The merger is part of Gantry’s plan to expand its commercial mortgage banking operations. The acquisition brings Gantry’s loan portfolio to $23 billion.

Recent acquisitions include its purchase of Triad Capital Advisors in October; its acquisition of the mortgage banking arm of Norris Beggs & Simpson in 2020; and The Rose Hill Group in 2019.

Westcap, founded by Beck and Craig Rommel in 1981, provided loans in the Western United States from its offices in Irvine and Los Angeles.

— Dana Bartholomew