Salt Lake City-based Zions Bancorporation N.A. (NASDAQ: ZION) has agreed to acquire the agency lending business of Basis Multifamily Finance I LLC, a subsidiary of Basis Investment Group, which includes its experienced team, access to agency lending programs, and all associated mortgage servicing rights.
“The acquisition of Basis’ agency lending business will strategically expand our capabilities to meet the needs of our commercial real estate customers. This is a natural, customer-driven evolution of our capital markets strategy, which continues to be a meaningful growth engine for the company. It also reinforces our commitment to supporting economic development, particularly in the high-growth Western markets we serve, where housing availability and affordability create strong demand for multifamily housing. We look forward to working with Tammy Jones and the entire Basis team,” said Harris Simmons, Chairman and CEO of Zions Bancorporation.
In connection with the acquisition, Zions and Basis have entered into a strategic partnership that they said will expand each company’s real estate financing and capital formation efforts.
The deal is one the latest acquisitions in the industry.
“This transaction is a great result for all stakeholders, enabling the agency platform to scale while driving financing and investment activity across Basis’ diversified Funds platform through our ongoing partnership with Zions. Our shared commitment to workforce and affordable housing serves as a powerful foundation for long-term success. I’m excited for what comes next and to seeing the agency business reach its full potential under Zions’ ownership,” Tammy K. Jones, CEO and Founder of Basis, said.
Offer Clients Expanded Product Suite
By acquiring Basis’ agency lending business, Zions said it will be able to offer its clients an expanded product suite through participation in a variety of important lending programs, including the Fannie Mae DUS program, and the Freddie Mac Optigo Conventional and Small Balance Loan programs.
Zions Capital Markets is serving as financial advisor to Zions, with Allen Overy Shearman Sterling US LLP serving as legal advisor. Beekman Advisors is serving as financial advisor to Basis, with Davis Polk & Wardwell LLP serving as legal advisor.
Zions Bancorporation is one of the nation’s premier financial services companies with roughly $89 billion of total assets at December 31, 2025, and annual net revenue of $3.4 billion in 2025. Zions operates under local management teams and distinct brands in 11 western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming.
Basis Multifamily Finance I LLC is an agency multifamily lending platform and a subsidiary of Basis Investment Group, a diversified commercial real estate investment management platform with more than $9 billion in debt and equity transactions closed across 47+ states.
