NEWPORT BEACH, CA-Beech Street Capital has expanded its Southern California operations, naming Greg Reed and Kristen Croxton to open a new office here. Beech Street describes Reed and Croxton as “veteran originators with extensive GSE experience.”

The two have extensive experience working on acquisitions and refinances through the agencies and have placed more than $1.8 billion of debt, primarily through the GSEs, since 2005, according to a Beech Street announcement. At Beech Street, they will be responsible for running the West Coast operations and will originate loans using products offered through Fannie Mae, Freddie Mac, FHA , and commercial programs, focusing their attention primarily on the Western US.

Grace Huebscher, Beech Street’s president and CEO, notes that the opening the Newport Beach office is part of the company’s plan to continue to build out its footprint, nationwide and in California. During its first year of business, Beech Street closed in excess of $1 billion in transactions, a record for a new lender, and is on target to more than double this sum in its second year, according to the company announcement. Recent transactions in California include $52.85 million fixed-rate conventional loans for a portfolio in Hayward and Fremont and a $17 million fixed-rate Fannie Mae DUS loan for a property in Folsom.