Korth Direct Mortgage has announced that its CEO, Holly MacDonald-Korth, has acquired a majority stake in the company, making the commercial real estate lender a majority women-owned enterprise.
Founded in 2016, the Florida-based firm is a voluntary SEC public reporting company originating, financing, and servicing first-lien commercial real estate loans.
According to its news release, MacDonald-Korth is now the single largest shareholder after buying 1.1 million shares of common stock from KDM’s former CEO James Korth. MacDonald-Korth and Pam Hipp – managing director of sales and distribution of KDM’s Michigan-based broker-dealer subsidiary J. W. Korth & Company – hold a combined 53% of KDM’s common stock.
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