Simon Chen has been named the new president and CEO of equity-minded buy-first lender Arrival Home Loans.
“So thrilled to be joining such a great group of people at Arrival Home Loans and Pacific Private Money Inc. to make private money real estate borrowing and investments available to ALL!” he wrote in a LinkedIn Post.
Chen brings more than two decades of experience in real estate, operations, and venture capital to the position. Before AHL he served as a Managing Partner at August Gill, an advisory firm for startups and capital providers. He will stay on there as an advisor.
His other experience includes EVP of Product and Innovation at Anywhere Real Estate, and president and CEO of one of Anywhere’s brands, ERA, where he focused on franchise development as well as mortgage and title revenue streams.
At Arrival, Chen will push the company forward in hopes of becoming the leading private money-backed consumer bridge lender in the U.S. He will lead all aspects of the company’s growth, from early-stage market expansion to strategic partnerships.
“We’re confident that Simon can guide Arrival through its next phase of growth and beyond. I can think of no one better than Simon to lead Arrival,” said Nam Phan, COO and board member of parent company Pacific Private Money, Inc.
AHL is a buy-first lender that provides a loan of up to 100% of a home’s sale price, secured by the buyer’s equity in their current home. Its parent company, Pacific Private Money, has funded over $2 billion in alternative mortgages in California.