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Friday, Aug 16
Capital One expands apartment lending business
- Capital One (COF) agrees to buy privately-held Beech Street Capital for an undisclosed amount. Founded in 2009, Beech Street is an originator and servicer of Fannie, Freddie, and FHA multi-family commercial real estate loans, and originated $4B worth in 2012. The company also services about $10B in loans.
- Based on 2012 activity, Beech Street is the nation's 6th largest originator - together, the two companies will move up to the #5 slot.
- Press release.