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New initiatives now underfoot
By virtue of her stock purchase earlier this month, MacDonald-Korth now holds 46% of the company’s stock. With such commanding interest, she plans to implement new initiatives at the firm, she told MPA.
“Currently, most of our investors take advantage of investments in independent mortgage deals,” she said. “We are launching a fund to give people the opportunity to invest in our overall lending strategy. So it’ll be a debt fund, a mortgage fund. That’s a new initiative. We are also launching a small balance, multifamily initiative that’s $250,000 to $5 million lending on one- to 25-unit multifamily [properties].”
In announcing MacDonald-Korth’s ascendancy as the firm’s single largest shareholder, a company Press release noted the firm now is a majority women-owned enterprise. Combined with shares owned by Pam Hipp, managing director of sales and distribution of KDM’s Michigan-based JW Korth & Co., the two now collectively own 53% of the company’s common stock.
MacDonald-Korth suggested the women-owned status is no mere window dressing, but reflective of a commitment toward diversity in its business practices.
“We’re looking to get involved in some of the emerging manager initiatives that some of the large asset allocators have that work with pension funds and things like that,” she said. “On a personal level, I like to get involved in projects that help housing affordability and sustainability, and am always looking for opportunities to work with other women- and minority-owned firms.”
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