BEECH STREET ARRANGES $20.9 MILLION LOAN FOR QUEENS APT COMMUNITY

NEW YORK CITY — Beech Street Capital has arranged $20.9 million in Fannie Mae DUS funds for the refinancing of a multifamily community located in Queens, New York City. Crescent Apartments comprises eight four-story buildings located at 2114-2170 Crescent St. in the borough's Astoria neighborhood. It contains a total of 256 units. The loan carries a fixed interest rate, a 10-year term, 9.5 years of yield maintenance and a 30-year amortization schedule on an actual/360 basis. Meridian Capital Group originated the loan.