The firm is representing Beech Street Capital in connection with its announced acquisition by Capital One Financial Corporation. The terms of the transaction were not disclosed. The acquisition is expected to close in the fourth quarter of 2013.
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 through the multifamily lending programs of Fannie Mae, Freddie Mac and FHA. Through its scalable origination and servicing platform, Beech Street originated approximately $4 billion in loans in 2012, making the company the sixth largest agency originator in the country. Beech Street services a loan portfolio of approximately $10 billion.
The Simpson Thacher team included: Lee Meyerson, Elizabeth Cooper, Michael T. Holick and Kai Fan (M&A); David Rubinsky, Jeannine McSweeney and Eric Wolf (Executive Compensation and Employee Benefits); Gary Mandel, Jonathan Goldstein and Michael Cardella (Tax); Lori Lesser and Zara Ohiorhenuan (Intellectual Property).