{"id":1004082175,"date":"2013-08-16T10:08:13","date_gmt":"2013-08-16T18:08:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004082175"},"modified":"2022-12-08T00:49:48","modified_gmt":"2022-12-08T08:49:48","slug":"capital-one-buys-beech-street-capital","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/capital-one-buys-beech-street-capital\/","title":{"rendered":"Capital One Buys Beech Street Capital"},"content":{"rendered":"

Anna Spiewak, News Editor<\/em><\/p>\n

\"Grace<\/a>

Beech Street founder Grace Huebscher<\/p><\/div>\n

Capital One Financial has opted to expand its multi-family banking business by acquiring one of the country’s largest issuer of Fannie Mae, Freddie Mac and FHA multi-family loans–Beech Street Capital.<\/p>\n

The acquisition, announced on Friday, is expected to close in the fourth quarter of 2013, pending approval by Fannie or Freddie. Terms of the transaction were not disclosed.<\/p>\n

“The combination of Capital One’s multi-family business and Beech Street will make us a top national multi-family business and Beech Street will make us a top 5\u00a0national multi-family originator and one of the few\u00a0institutions in the U.S. capable of offering clients a one-stop banking solution encompassing a\u00a0full range of banking services,” said Michael Slocum, president of Capital One’s Commercial Banking Group, in the news release.<\/p>\n

Grace Huebscher, a 14-year veteran of Fannie Mae, founded Beech Street in 2009. The company originated about $4 billion in loans in 2012, making it the\u00a0sixth largest agency originator in the country. Beech Street services a loan portfolio of about $10 billion.<\/p>\n

“We share Capital One’s vision of bringing together two complementary and high-performing teams to boost our position in the multi-family space,” said\u00a0Huebscher in a prepared statement.<\/p>\n

Earlier this year, in an interview with CPE, <\/em>Huebscher\u00a0<\/em>said she wants to\u00a0<\/em>expand Beech Street\u2019s product offerings to include alternative executions such as CMBS, B-notes and bridge financing<\/a>.<\/p>\n

\u201cI think it\u2019s going to continue to be a robust market, but there\u2019s going to be a lot more competition, so that\u2019s going to potentially impact many of us players,” she told CPE<\/em>.<\/p>\n

\"Lyon_Rick1\"<\/a>

Rick Lyon, of Capital One<\/p><\/div>\n

Headquartered in Bethesda, Maryland, Beech Street has 10 offices nationwide. Combined, the two companies will have portfolio loan servicing and origination capabilities nationally, according to the release.<\/p>\n

“We have great respect for the experience, leadership, and unique expertise Beech Street founder & CEO Grace Huebscher and her exceptional management team bring to Capital One,” said Rick Lyon, head of Commercial Real Estate Banking, Capital One. “We believe the market will see significant benefits from this powerful combination of industry-leading expertise, greater resources and expanded capabilities.”<\/p>\n

Look for further coverage to come.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Capital One Financial has opted to expand its multi-family banking business by acquiring one of the country’s largest issuer of Fannie Mae, Freddie Mac and FHA multi-family loans–Beech Street Capital.<\/p>\n","protected":false},"author":952,"featured_media":1004082177,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21742],"tags":[],"class_list":["post-1004082175","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-latest"],"acf":[],"yoast_head":"\nCapital One Buys Beech Street Capital - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/capital-one-buys-beech-street-capital\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Capital One Buys Beech Street Capital\" \/>\n<meta property=\"og:description\" content=\"Capital One Financial has opted to expand its multi-family banking business by acquiring one of the country's largest issuer of Fannie Mae, Freddie Mac and FHA multi-family loans--Beech Street Capital.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/capital-one-buys-beech-street-capital\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-08-16T18:08:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T08:49:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/08\/Grace-Huebscher-2013.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"227\" \/>\n\t<meta property=\"og:image:height\" content=\"200\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anna Spiewak\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/capital-one-buys-beech-street-capital\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/capital-one-buys-beech-street-capital\/\",\"name\":\"Capital One Buys Beech Street Capital - 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