Beech Street Capital LLC has announced that it provided $2.2 billion in multifamily financing, more than doubling its record-breaking performance in 2010, its first year.
“This was really a breakthrough year for us,” said Grace Huebscher, Beech Street’s president and CEO. “The word is clearly getting out among borrowers that Beech Street is committed to providing an extraordinary level of service and execution.”
Beech Street doubled its Fannie Mae business and more than tripled its Freddie Mac business, while its FHA and broker business continued to grow. By year end, Beech Street expanded its national reach and is now servicing loans on properties in 27 states.
In addition, Beech Street opened an office in Southern California, added experienced personnel to its offices in Chicago and New York, and put together teams specializing in Freddie Mac and FHA LEAN and MAP programs.
“Our position is that finance is ultimately a people business,” Huebscher said. “We hire people who have exceptional financial expertise and strong character and who really care about our customers and agency finance partners. In this way, we set the stage for another year of substantial growth.”