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NEW YORK CITY- Real estate owner and developer BEB Capital has formed a new division offering bridge loans to meet the growing demand for last-mile distribution services. The new division will make loans on small to mid-sized assets on the East Coast, where BEB Capital operates.
"Our intent is to become an important strategic lender/partner in a sector of real estate that is suddenly experiencing very rapid growth but is not well understood by traditional capital sources," said Chief Operating Officer and President of Lending Division Keyvan Ghaytanchi in a prepared statement. "There is strong demand for special situation funding in this sector, and as long-experienced owners and operators of substantial warehouse and distribution properties ourselves, we're in a position to understand the needs of developers, to prudently underwrite the risks, and to help them effectuate their own growth."
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
