Pensam was founded in 2009 by a team of seasoned real estate professionals who identified a need for alternative flexible capital in a market challenged by limited liquidity. Michael Stein, Gavin Beekman and Joe Ackerman created Pensam, an opportunistic lender providing short-term bridge loans to owners of distressed properties. After quickly establishing itself as a competitive alternative lender on a national playing field, Pensam expanded into the multihousing business, acquiring and repositioning apartment properties throughout the country. In 2015, Pensam established a development division focused on ground-up construction and development of high-quality apartments. Today, Pensam is one of the country’s largest private real estate investors and capital providers specializing in the vibrant U.S. multihousing sector.