CAPITAL ONE FINANCIAL CORP acquires Beech Street Capital

CAPITAL ONE FINANCIAL CORP acquired Beech Street Capital for Not disclosed (acquired ~$10 billion commercial-mortgage servicing portfolio), a transaction completed in November 2013.

Beech Street Capital operates in Commercial real estate / multifamily lending, is based in Bethesda, Maryland, USA, had revenue of about ~$4 billion in loan originations (2012). Capital One acquired Beech Street Capital, a privately held national originator, underwriter and servicer of multifamily commercial real estate loans through Fannie Mae, Freddie Mac and FHA programs. Founded in 2009 and headquartered in Bethesda, Maryland, Beech Street originated about $4 billion of loans in 2012 (the sixth-largest agency originator that year) and brought a roughly $10 billion commercial-mortgage servicing portfolio. The deal made Capital One a top-five national multifamily originator. Terms were not disclosed.

Expands and enhances Capital One's multifamily banking capabilities and product offerings, vaulting it into the top tier of national multifamily originators.

A scaled agency-lending platform and $10B servicing book that immediately elevated Capital One's multifamily ranking. Top-5 multifamily origination scale; agency-program access; servicing income. Integrated into Capital One's multifamily / commercial real estate banking business.

The combination of Capital One's multifamily business and Beech Street will make us a top 5 national multifamily originator.Rick Lyon, Head of Commercial Real Estate Banking, Capital One

Advisory firms were not disclosed for this transaction.

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