CLEVELAND--(BUSINESS WIRE)--In its first year of business, Beachwood Capital has delivered on over $400 million of commercial debt placement through the long-established relationships that its principals have with banks, life insurance companies, CMBS and institutional lenders.
Yoel Mayerfeld and Andy Kline, active real estate investors and co-CEOs of Cleveland-based Chase Properties, formed Beachwood Capital with David Moore, a veteran of commercial mortgage banking. It was through their own experience as clients of the mortgage brokerage process that led to the creation of the new firm. They saw an opportunity to approach the debt placement process from the owner’s perspective to provide customized, cost effective solutions for each financing need.
Moore has been actively involved in over $1 billion dollars in commercial debt placements and has worked all sides of the loan origination and closing process. Prior to forming Beachwood Capital, he was with Pinnacle Financial Group, a full-service commercial mortgage broker.
“After spending years with a traditional mortgage broker, it was eye-opening to work the process directly from the owner’s perspective. It is a privilege to now align my industry experience with the expertise of an owner such as Chase Properties,” said Moore. “It is our goal to provide a new service model focusing on the borrower’s point of view, and the feedback has been that it is working. I am grateful to our clients that have given us an opportunity, and look forward to further developing these and new relationships.”
By ensuring the best loan product, Beachwood Capital has delivered results across multiple asset classes including multi-family, student housing, senior living, office and retail properties. Notable deals included $42 million in construction financing for a student housing project; a $51 million permanent CMBS loan for the acquisition of Belden Park Crossings in Canton, Ohio; and the $22 million financing of Lakeland Commons Shopping Center in Jackson, Mississippi. Additional information can be found at www.beachwoodcp.com.