Central State Mortgage Parent Company Opens Equity Commercial Real Estate Firm

WAUWATOSA, Wis. – CSMC Inc., the third largest multi-owned CUSO and parent company of Central States Mortgage, has established Equity Commercial Real Estate. A statement from CSMC said “the new firm will combine the expertise of three established principal partners to concentrate on leasing and sales of office, industrial, retail and investment real estate, and will provide pre-development and development consulting and brokerage services as well.” The three principals include Tom Gale, Tim Casey and Kenneth Petershack. CSMC CEO Richard Jungen said the three “are a perfect fit with our philosophy of hiring local experts who are not only active in their communities but also share the commitment to superior customer service that runs through all of the Central States Companies.” He explained that CSMC established Equity Commercial Real Estate because of the trend among credit unions of expanding their business services. “To complement the services of the credit unions with whom we work and already offer business real estate lending, Equity Commercial Real Estate will allow us to offer the complete suite of commercial real estate services.” Equity Commercial Real Estate becomes CSMC’s fifth business. The other four include: Central States Mortgage, Direct Mortgage Funding, Premier Title and Closing Services, and HomeSale Realty. CSMC is owned by 25 CUs and the Wisconsin Credit Union League.