American Advisors Group this week announced the opening of a new office for its sales and marketing staffs, marking its second such expansion in 2017.
The Orange, Calif.-based reverse mortgage lending giant will begin leasing nearly 65,000 square feet of office space at Irvine Towers in Irvine, Calif. next spring, with the sales and marketing teams migrating from its existing headquarters. The move will bring a net gain of 33,000 square feet to AAG’s footprint, with a total of nearly 150,000 within Orange County.
“AAG has come a long way in the past 10 years,” founder and CEO Reza Jahangiri said in a statement announcing the move. “We quickly outgrew our corporate headquarters in Orange and needed to find a real estate solution that accurately reflected our company brand and culture, provided flexibility for future growth, and showed our employees that we care as much about them as they care about our customers.”
Earlier this fall, AAG announced the opening of a new standalone operations center in Austin, Texas. That move, which will see up to 175 employees come to the Lone Star State, was the culmination of a two-year search for a loan processing and customer service center.
It’s been an overall busy year for the industry leader, which also quietly rolled out plans to expand into product lines outside of the reverse mortgage space: AAG is currently set to launch a real estate brokerage and a forward-lending platform, all with the goal of serving more seniors — and converting more of its leads into sales of any kind.
AAG generated 12,651 reverse mortgages during the 12 months ended November, according to the most recent data from Reverse Market Insight — dwarfing the second-closest competitor, Finance of America Reverse, and its 5,328 loans.
This move marks something of a homecoming for AAG: The company noted that its first headquarters, a 300-square-foot space, was just a few blocks away from its new sales and marketing office. AAG worked with H. Hendy Associates for the design of the space, which will includes the ninth, 10th, and 11th floors of the building.
“We are thrilled that a thriving financial services company like AAG has selected Irvine Towers as a workplace community that will help them recruit and retain talent while inspiring their continued growth,” Tom Greubel, vice president of building owners Irvine Company Office Properties, said.
Written by Alex Spanko