Local commercial lender Chad Hagwood said he and his employees in Birmingham and Atlanta have split from Berkadia Commercial Mortgage.
Hagwood now will open offices in the two cities for newly formed Beech Street Capital out of Maryland and oversee originations for the company’s Southeast operations.
That means, he said, there’s no bureaucracy or legacy debt and lending decisions will be made in Birmingham for multifamily, manufactured housing community and commercial loans.
“What drew me to (Beech Street) is the core mentality of serving the customer, which the big and medium-size guys have gotten away from because so many are plagued with issues and problems,” said Hagwood. “And the customers got lost in the lenders’ problems.”
Read more: Lending vet to open Beech Street Capital office in Birmingham - Birmingham Business Journal