McLEAN, VA-As we reported yesterday, Capital One Financial Corp. has closed on its acquisition of Beech Street Capital, a Bethesda, MD-based originator and servicer of GSE and FHA multifamily loans.
GlobeSt.com caught up with Grace Huebscher, Beech Street's founder and CEO, to hear more about the transaction since it was first announced in August. In a brief e-mailed conversation this is what she had to say about:
When the deal closed: It was officially approved last Friday.
Feedback from clients about the deal: Very positive. "Our clients are enthusiastic about the fact that we will be able to offer even more tailored solutions to help them with their financing needs."
What's happening right now: "It's a busy time of the year and both companies are very active and focused on getting business done for our clients before year end.
The actual work of joining the two firms: "We are starting to work collaboratively with Capital One for some of our clients within their current footprint such as Texas, the Mid Atlantic and Northeast.
What's next: "Over the coming months we will be identifying new opportunities to expand, particularly out West, and we will be working on developing bridge and CMBS executions as well."
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
