Lender News: Naked Pizza Co-Founder Crochet Joins Beech Street Capital

by • June 9, 2014 • Awards & Recognition, Finance & LendingComments (0)5152

Beech Street CapitalBeech Street Capital, a Capital One company, is a multifamily mortgage lender based in Bethesda, Maryland. The company recently announced that Randy Crochet will come on as Vice President of Originations for the New Orleans region.

Crochet, an original co-founder of Naked Pizza, will be responsible for work on the multifamily and commercial real estate debt financing side of the company, with an emphasis on FHA programs.

Along with another co-founder, Jeff Leach, Crochet admitted to making a lot mistakes after the first two years at Naked Pizza, which led billionaire investor Mark Cuban to invest under his Stimulus Plan. Cuban spent a year and a half working to fix what was considered broken, through a change in ownership and operations, but moved on in November 2013 through a sale of shares to the owners of the franchise in Washington, D.C.

Post Naked Pizza and prior to Beech Street Capital, Crochet managed the U.S. Department of Housing and Urban Development multifamily and healthcare division at Stifel Bank.

Chad Hagwood, Beech Street’s Executive Vice President of Originations, said Crochet brings invaluable experience and a track record of success to the company.“His deep FHA product knowledge and detailed understanding of the New Orleans market’s needs fits perfectly with our commitment to providing an exemplary, personalized client experience to our multifamily customers.

Crochet looks positively toward the future. “This team is on an exciting trajectory, and I’m delighted with this opportunity to help build our presence in Louisiana,” he Crochet. “I look forward to making more multifamily investors aware of FHA programs, providing the best in class personal service and customized financial solutions that has made Beech Street successful.”

This article originally appeared in our sister publication, Silicon Bayou News.

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