BETHESDA, MD, Nov. 10, 2010 – Beech Street Capital announced that Damon B. Reed and Dan Armstrong have joined the firm and will lead the company’s expansion into manufactured home community lending.
Reed and Armstrong are based in the Birmingham, Alabama production office and will be responsible for originating manufactured home community loans on a nationwide basis.
“We are pleased about expanding our portfolio to include MHC loans,” said Grace Huebscher (top right photo), president and chief executive officer of Beech Street Capital.
“This is an asset class where we feel we can leverage our experience and expertise to deliver superior execution for our customers, so we see a lot of opportunity here. Having Damon and Dan on our team ensures our company will be well represented with these borrowers.”
“Beech Street Capital’s streamlined process and focus on the customer will make us a formidable player in this segment of the market,” Reed added.
Reed, a licensed California broker, and Armstrong join the firm as vice presidents. Prior to joining Beech Street Capital, both were with Berkadia Commercial Mortgage.
The two oversaw manufactured home community lending there and at Berkadia’s predecessors, GMAC Commercial Mortgage and Capmark.
Reed and Armstrong have closed over $2 billion in manufactured
home community loans throughout their careers.
Contacts:
Damon Reed, Office: 205-991-6700, ext. 8191, Mobile: 205-601-2855
Dan Armstrong, Office: 205-991-6700, ext.8192, Mobile: 205-276-6457
Sharee Lawler (240-507-1923)
EMAIL: slawler@beechstcap.com
33 Inverness Center Parkway, Suite 150
Birmingham, Alabama 35242
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