Our clients are small to medium-sized real estate investors, contractors, developers and small business owners, in a range of industries. While most of our clients are Minnesota based, we also service customers in Wisconsin, Iowa, North and South Dakota. As noted in our loans closed section, our loan sizes vary from $400,000 to $11,000,000.
Our clients use and rely on us for:
- Quick answers and rapid turnaround.
- Financial analysis and loan structuring.
- Projections, accounting and financial advice.
- Valuation opinions
- Professional referrals
Our clients hire us rather than someone else for these reasons and because we can help them negotiate the best loan terms and conditions to meet their debt financing and other needs.
Avidity Financial, LLC was organized in 2008 by Kenneth (Tim) Sorteberg and Gregg Stellick.
Kenneth Sorteberg is a co-founder and President of the Company. He is a CPA (inactive), and a licensed real estate broker, with an MBA in finance and management. He has worked in the commercial lending and residential lending businesses since 1972, after leaving Arthur Andersen & Co., a big eight CPA firm.
In addition to managing a $150,000,000 construction and development loan portfolio for the Eberhardt Company in the mid-1970s, he founded and operated a large residential subprime mortgage company that was acquired by a NASDAQ-listed banking group in 1996.
He has served as a court-appointed receiver, managing a number of commercial and multi-family projects, and overseeing the construction and completion of several properties. He has also acquired and invested in apartments, office-warehouses and office buildings in the Southwest corner of the Minneapolis-St. Paul Metropolitan area.
Gregg Stellick is a co-founder and CEO of the Company. Gregg has more than 20 years of experience in the commercial finance industry, having worked as a lender for super regional banks in the Midwest, managing real estate portfolios exceeding $150 million in assets. Gregg has provided financial guidance and strategic planning for commercial real estate owners for more than 15 years.
Gregg was also the Managing Director of Finance for a privately held real estate development company in Minnesota that focused on capital funding, real estate development and property management. He has developed a large network within the industry. His breadth and depth of experience offers a broad perspective on the commercial real estate market and capital funding options in the real estate market.