Capital One Financial Corporation today closed its acquisition of Beech Street Capital, a privately held originator and servicer of Fannie Mae, Freddie Mac and FHA multi-family commercial real estate loans.
The terms of the transaction were not released.
Beech Street was founded in 2009 and ranks as one of the largest providers of government-insured mortgage loans. The company originated about $4 billion in loans in 2012, making it the sixth-largest agency orginator in the country. Beech Street services a loan portfolio of about $10 billion.
“This marks the beginning of an exciting time for Capital One’s commercial real estate business, said Rick Lyon, head of commercial real estate banking for Capital One, in a written statement.
