BETHESDA, MD, Jan. 12, 2011 – Beech Street Capital, LLC, announced today 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,” says Grace Huebscher (top right photo), 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.
These milestones reflect Beech Street’s rapidly growing presence in the marketplace. An equally significant measure of the firm’s growing strength—and one with long-term implications—is its investment in people.
Among other steps, 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 says. “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.”
Beech Street plans to build on this momentum throughout 2012. “We have the range of products and the in-house expertise to more than meet the needs of virtually any multifamily borrower,” says Huebscher. “And we’re eager to show them what we can do!”
Contact
Courtney Lewis at 240-507-1948 or Jenifer Bernardi at 240-507-1946.
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