BEB surpasses $100M in real estate lending
BEB Lending, an affiliate of Port Washington-based BEB Capital, has loaned more than $100 million to commercial real estate borrowers since its founding in early 2020, the company announced.
BEB Lending reached the $100 million milestone after completing three deals totaling $15.5 million to close out 2021. BEB lent $3.2 million to Raymond Chera and Vaya Development for a development site in the Bronx; $2.2 million to Hertz Realty Group for an industrial site in Fort Lauderdale, Fla.; and $10 million to an industrial project in Broomall, Penn. The deals were overseen by Keyvan Ghaytanchi and Sean Silverbrook of BEB Capital.
BEB Lending deployed $60 million in capital in 2021 and has set a goal of deploying an additional $150 million by the end of 2022.
While BEB Lending primarily focuses on the industrial sector, Ghaytanchi said the firm is expanding the business to service additional asset types including multifamily, mixed-use, office, retail, development sites, note-on-note financing and other commercial property types. So far, the firm has completed financing transactions in New York, New Jersey, Connecticut, Pennsylvania, North Carolina, South Carolina and Texas.
“The industrial market has seen an uptick in demand over the past several years and is an area of real estate not well understood by traditional capital sources,” Ghaytanchi, COO and president of BEB Lending, said in a company statement. “BEB’s specialized expertise in the industrial positions us where we can mitigate risk and spur growth for developers and owners.”