BOSTON– Renovo Financial, a real estate specialty finance company focused on lending to residential rehabbers, builders, and developers, announced that it has expanded to Massachusetts and is opening an office in Boston.
To spearhead the market, Paul Shaughnessy has joined the firm as Senior Vice President.
A Boston-area native, Shaughnessy joins Renovo Financial with a multi-faceted background in the real estate specialty lending industry, most recently serving as Director of Originations for a nationwide private lender.
“Renovo Financial is truly bringing something unique to Boston with its one-stop-shop for real estate investors,” said Shaughnessy. “Unlike other lenders in the market, Renovo is different because of its flexibility and obsessive focus on the customer experience. We look forward to growing alongside our real estate investor partners in Massachusetts.”
“Paul has a depth of knowledge and experience in Massachusetts real estate finance and markets, and is ideally suited to lead our new operation there,” said Kevin Werner, CEO of Renovo. “Our philosophy has always centered around local market knowledge to allow our clients to capture opportunity where national platforms are unable to see the potential – we are excited Paul is bringing Massachusetts expertise to Renovo Financial.”
Werner added, “During this time, many lenders are not willing to close loans and are certainly not expanding into new markets. In the last five months we have expanded into the fast-growing real estate markets of Texas and now Massachusetts.”
Shaughnessy, a native of Malden, Mass., now lives on the North Shore of Boston.
Founded in 2011, Renovo Financial is a fast-growing Chicago-based private lender for real estate entrepreneurs who rehab or build investment properties. Renovo uses local market expertise, real-world underwriting, and a service-driven approach to create a financing relationship that delivers more than simply working capital.