TUCSON, Arizona -- Bayview Asset Management, LLC, a nationwide investment and mortgage finance company, is expanding its operations in Tucson, according to an announcement Thursday by Sun Corridor Inc.
Bayview says it plans to hire an additional 375 people in key financial roles.
The company is located in the University of Phoenix building at 300 S. Craycroft Road, and it plans to add a second location at 5151 E. Broadway Blvd. The new space will add about 40,000- square-feet across three floors.
The economic impact of the Tucson expansion is estimated at $552 million.
Initially founded in 1993, the mortgage investment firm is focused on investments in mortgage credit, including whole loans, mortgage and asset-backed securities, servicing rights, and mortgage-related equities. Bayview is headquartered in Coral Gables, Florida with approximately 2,000 employees across asset management and loan servicing operations. As of December 31, 2016, Bayview oversees approximately $11.1 billion in assets under management. Bayview has substantial experience in sourcing, purchasing, servicing, and managing residential and commercial mortgage loans and mortgage-backed securities.
Bayview is minority-owned by affiliates of The Blackstone Group, L.P. (NYSE: BX).
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