Sharestates Appoints President and Announces Promotions to Strengthen Senior Management Team in Support of Next Phase of Growth

GREAT NECK, N.Y., July 11, 2022 /PRNewswire/ -- Sharestates, a leading real estate financial technology (fintech) platform designed to accelerate the redevelopment and rehabilitation of communities, announced several promotions to strengthen its senior management team.

The promotions include:

• Stephan Leccese to President & Chief Operating Officer
• Billie Adams to SVP Sales & Marketing
• Stephanie Balducci to VP Lending Operations
• Jason Redding to Sr. Director Loan Origination

These recent promotions follow a strong history of recognizing internal talent for advancement and come after a broader expansion of the executive team and Board of Directors over the past year, which established oversight and added experienced leadership in key areas of the Company.

The recent additions included:

• Rayman Mathoda (former CEO of Xome, Co-Chief Executive Officer of Genesis Capital) as Independent Board Member
• Tina DelDonna as Chief Financial Officer
• Amy Doshi as General Counsel
• Jeremy Moretti as Chief Human Resource Officer

All of these actions were taken in support of Sharestates' next phase of growth and further the Company's commitment to promoting a culture of diversity and inclusion in the private lending industry.

Since its founding in 2013 Sharestates has pioneered the private lending industry guided by Co-Founder and Chief Executive Officer, Allen Shayanfekr. "The last two years of growth and rebuilding have been the most rewarding in the Company's history," said Allen.

Allen added, "When Radni, Ray, and I co-founded Sharestates, I was only 24 years old. As a young CEO, I didn't fully appreciate how an organization could benefit from having the right leadership team complemented by sound organizational design. At that time, I focused my attention on making sure we would establish Sharestates as a leader in the private lending market. Looking back, welcoming the advice, guidance, and experience of others could have put us on a path to even greater success, with fewer bumps along the way. I appreciate Stephan's ability to help the Company define and then navigate this new growth path. His ability to attract and develop a strong and competent leadership team has provided the needed structure for Sharestates to accomplish its long-term goals."

Raymond Y. Davoodi, Co-Founder & Chief Sales Officer, added, "As a co-founder and leader in the loan origination effort for Sharestates, I am incredibly pleased about the expansion of our leadership team and the new growth strategy. The Company's plan has its roots in a successful relationship-focused regional lending model and a family-focused culture. I am excited to not only see this expansion underway, but the respect for, and continuance of our family-focused culture as we expand nationally."

Stephan Leccese, President & Chief Operating Officer, expanded, "The past two years have been a whirlwind of activity and excitement. I am humbled to see so many competent and accomplished executives believing in and joining Sharestates to help execute our growth strategy. I am confident in their respective abilities and appreciate the continued support from the co-founders as the business continues to transition. I am excited about the next phase of growth. With our expanded line of credit and a renewed focus on operational excellence, I believe Sharestates is positioned to continue its success."

Sharestates doubled its loan origination volume in 2021 and continues to expect strong growth for 2022, despite recent market volatility. Sharestates loan performance continues to improve post-pandemic. These positive trends are complemented by a reorganized loan servicing and asset management team and improved credit review procedures executed within an expanded underwriting team. Despite these numerous changes, Sharestates continues to offer one of the broadest loan programs to help its developers grow as their respective businesses scale with a renewed focus on providing best-in-class service to both borrowers and note buyers.

Sharestates is one of the fastest-growing national private lenders focused on non-owner-occupied residential and commercial properties. The company creates customized lending solutions for real estate investors and developers. Sharestates has successfully funded over $3.3 billion in projects nationwide and has the broadest loan programs available in the market with competitive pricing.

Sharestates funds loans from $100k to $20mm on residential (SFR 1-4), multi-family, mixed-use, and commercial properties. Its loan programs include residential bridge, fix & flip, new construction, portfolio, and rental loans. As a partner to its developers, Sharestates manages the servicing of loans it originates through successful repayment to ensure the needs of its developers are met throughout the loan lifecycle.

Sharestates' proprietary technology platform allows the Company to more efficiently source and qualifies investment opportunities on real estate projects nationwide and create investment products that are resold to institutional and accredited retail investors. Sharestates' end-to-end approach to technology and vertical integration allows the Company to capture higher margins and leverage its expertise.

Real estate veterans founded Sharestates, and its success is attributed to a strong leadership team, ease of use, sensible underwriting practices, and a relationship-focused lending strategy. Sharestates partners with direct borrowers and brokers.

To learn more visit www.Sharestates.com.

Media Contact:
Justin Peterson
SVP of Marketing
212-201-0750
[email protected]

SOURCE Sharestates