Korth Direct Mortgage CEO James Korth is stepping down, to be replaced by current President and CFO Holly MacDonald-Korth.
KDM is a national commercial real estate finance firm that offers fixed-rate loans up to $100 million for multifamily, office, retail, mixed-use, self-storage, industrial, and other select properties.
James Korth, his daughter Holly MacDonald-Korth, and Danny Llorente, KDM’s Chief Lending Officer, founded the company together in 2016.
“It has been the great honor of my life to work with my father and to be a part of this team of hard-working, dedicated, and passionate professionals who work tirelessly to help commercial real estate owners and borrowers achieve their business goals, while simultaneously bringing value to our investors. I look forward to continuing that legacy for years to come,” MacDonald-Korth said.
MacDonald-Korth has been the President and CFO since 2017. She also serves as the CFO and Managing Director of J.W. Korth & Company, which Korth founded in 1982 and of which KDM was originally a subsidiary.
Her experience prior to KDM includes Senior Vice President at Overstock.com and a financial analyst for the Federal Reserve Board of Governors.
She holds a Bachelor of Business Administration with Honors in Finance from the University of Miami.
Korth will remain Chairman of the Board, with the title of Chairman and Founder. He will also continue to serve as Managing Director of J.W. Korth & Company.
“Holly MacDonald-Korth has shown herself to be a strong, innovative, compassionate, and responsive leader for KDM,” said Korth. “Holly has essentially been acting CEO for a couple of years now and I am confident that with her at the helm, KDM will continue on its upward trajectory.”