- $7.9 million FHA 223(a)(7) loan
- Skilled Nursing Facility - 120 beds
- East Haven, Connecticut
Beech Street Once Again Captures Top-Producing Multifamily Lender Spots for Fannie and Freddie
FEBRUARY 20, 2013, BETHESDA, MD – For the second year running, Beech Street Capital, LLC, placed third on Fannie Mae’s annual list of top multifamily loan originators. Beech Street’s volume with the agency grew 45% in 2012. This growth outpaced the jump in Fannie Mae’s multifamily loans, from $24.4 billion in 2011 to $33.8 billion in 2012.
At the same time, Beech Street raised its profile in the Freddie Mac rankings. It was the top seller in the Northeast Region, the top structured finance lender and for the second year in a row earned Freddie Mac’s Partnership Award for outstanding collaboration, increased loan volume, and commitment to working with the agency. Beech Street was Freddie Mac’s seventh top seller nationwide.
“The depth of experience that Beech Street brings to our partnership with the agencies has been a decisive factor in our growing leadership in the market, and we are grateful for the relationship,” says Grace Huebscher, president and CEO of Beech Street. “It has enabled us to execute on deals in ways that far exceed the expectations of our borrowers and helped us attract and retain a steady stream of new customers.”
Huebscher points to a number of other factors that contributed to Beech Street’s performance in 2012—and that bode well for 2013. The company has steadily expanded its geographic footprint and now has 13 offices nationwide. From Huebscher’s point of view, having the right people in those locations is the critical difference. “We don’t open an office unless we’ve secured a top producer to lead it,” she says. Huebscher also underscores Beech Street’s record of attracting new customers and quickly converting them to repeat customers. “We’re in a relationship business,” she says. “That’s why Beech Street’s laser-like focus on service and execution is so critical.”
About Beech Street Capital, LLC
Beech Street Capital, LLC is a mortgage banking company engaged in originating, underwriting, closing, and servicing high-quality multifamily mortgage loans for existing and proposed apartment buildings and manufactured home communities throughout the United States. Beech Street is a Fannie Mae DUS® lender, a Freddie Mac Program Plus® Seller Servicer, and an FHA MAP and LEAN lender. Headquartered in Bethesda, Maryland, Beech Street has offices in Alabama, California, Florida, Georgia, Illinois, Massachusetts, New York, Texas, and Washington. Web site: www.beechstcap.com