Capital One buys Beech St.

Capital One Financial Corporation is set to acquire Beech Street Capital, a privately-held, national originator and servicer of Fannie Mae, Freddie Mac and FHA multifamily commercial real estate loans.
The terms of the transaction were not disclosed.
Founded in 2009, Beech Street is an originator, underwriter and servicer of multifamily commercial real estate loans and is one of the largest national providers of government insured mortgage loans.
Last year, the company originated $4 billion in loans, making the company the sixth largest agency originator in the country.
“As we continue to expand our product capabilities and services for clients across our growing commercial banking business, this acquisition is a logical expansion of our already substantial commitment to the multifamily sector,” said Michael Slocum, president of Capital One’s Commercial Banking Group.