Growing ORIX Real Estate Capital Will Expand in Ohio, Adding 62 Jobs
Company investment will focus on IT software development
Published: Tue Jul 30 2019
Company Name: ORIX Real Estate Capital (OREC)
Industry Sector: Financial Services
Company Profile: OREC, the combined company of RED Capital Group and Lancaster Pollard, provides comprehensive capital solutions for multifamily, affordable, seniors and healthcare real estate through its affiliated companies.
OREC is a subsidiary of ORIX Corporation USA, the U.S. subsidiary of ORIX Corporation, a publicly owned, Tokyo-based international financial services company. The OREC companies have financed approximately $100 billion in total par-amount and originate $6 billion of transactions annually, with a servicing portfolio of $25 billion. The company has approximately 330 employees in 23 offices nationwide.
Company Website: www.orix.com
Type of Project: Expansion
- Jobs committed: 62
- Jobs retained: 180
Timetable: Hiring for a range of positions will begin in July 2019.
ORIX Real Estate Capital (OREC) is the combined company made up of RED Capital Group and Lancaster Pollard, two Columbus-based firms that merged in early 2019. As a result, OREC created a new entity with high growth potential.
The company needed space to grow, a strong financial services ecosystem and a talent pipeline that would support current and future growth. With a presence in central Ohio for nine years, OREC realized the state could meet those needs.
OREC plans to expand its operations at its existing facility in downtown Columbus as the company focuses its investment on IT software development. The company will retain its current full-time workforce of 180 employees, while adding an additional 62 high-paying, full-time jobs.
Ohio has the fifth largest financial services industry in the U.S., made up of leaders including JPMorgan Chase and fintech innovator Klarna. Ohio’s concentration of financial industry leaders has trained and encouraged the development of quality tech and financial services talent. The state’s cities offer lower operating costs than comparative metropolitan areas, providing another foundation for companies to move forward.
Today, OREC originates $6 billion of transactions annually and has a servicing portfolio of $25 billion. The company has approximately 330 employees in 23 offices nationwide.
By combining two industry-leading firms and forming ORIX Real Estate Capital, we created a new entity with high growth potential in the Columbus Region. Retaining and expanding our operations in downtown Columbus furthers our local success strategy and could open additional opportunities for future growth in the market.
Columbus 2020, city of Columbus, Ohio Development Services Agency and JobsOhio