Money360 Inc. has announced some major managerial changes at the top of its organization, with the appointment of Gary Bechtel as the company's new president coming as Dan Vetter, a co-founder of Money360, assumes the role of Chief Operating Officer.
Mr. Bechtel is a seasoned commercial real estate veteran with more than 29 years of combined experience in commercial mortgage banking and lending, and is well respected within the capital markets community. During his career, Mr. Bechtel has been instrumental in the formation and growth of several successful commercial mortgage banking or lending platforms where he was part of building, expanding, and overseeing mortgage banking and lending operations, including Johnson Capital Group, Hometown Commercial Capital, Meridian Capital Group, and FINOVA Realty Capital. He was most recently Chief Lending/Originations Officer at CU Business Partners (now Extensia Financial), the country’s largest credit union service organization.
Throughout his career, Mr. Bechtel has been involved in all aspects of the commercial real estate finance industry, including the origination, underwriting, structuring, placement, closing, and disposition of more than $8 billion in commercial debt transactions for a variety of property types on loans ranging in size from $1M to $250M using a number of different financing structures. These transactions were completed utilizing both institutional and private sources that included commercial banks, credit unions, life insurance companies, commercial mortgage-backed securities (CMBS), private capital, equity and mezzanine funds, and others. Moreover, Mr. Bechtel has significant experience leading and managing teams on a nationwide basis.
While chief operating officer and managing director of Johnson Capital, Mr. Bechtel helped grow loan originations from $1 billion per year to more than $3 billion per year. As managing director of institutional accounts at Hometown Commercial Capital, Mr. Bechtel was responsible for creating a division that focused on establishing relationships with mortgage bankers/brokers, tenant-in-common sponsors, real estate investment trusts, and others. He also oversaw the West Coast operations of Meridian Capital Group, with an emphasis on expanding the company’s capital relationships and origination personnel. During his career, he has been involved in numerous technology initiatives, helping to provide more efficient and cost-effective sourcing and funding of loan opportunities.
He is a past or current member of the Mortgage Bankers Association of America, the California Mortgage Bankers Association, the National Association of Industrial and Office Properties, and the International Council of Shopping Centers.
In his new role as president of Money360, Mr. Bechtel will be responsible for expanding the company’s lending programs, building out its origination and loan processing capabilities, and interacting with institutional investors.
“Gary brings a unique blend of commercial real estate loan and operational experience, and an established network of relationships within the capital markets. His background, experience, and knowledge will play a vital role in helping to take Money360 to the next level, and in accelerating the development of our capital markets,” said Evan Gentry, CEO of Money360.
“I’m delighted to be joining the Money360 team,” said Bechtel. “Online marketplace lending is fundamentally changing the way that commercial real estate borrowers borrow money and investors invest in loans. This type of technology is also currently reshaping the real estate and finance industries. It’s an exciting time to be in this industry, and Money360 definitely has an impressive and solid platform for facilitating these type of transactions. So, I look forward to putting my background, experience, and network to use to help Money360 grow.”