BEECH STREET SECURES $46.3 MILLION FANNIE MAE LOAN IN NYC

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NEW YORK CITY — Beech Street Capital has secured a total of $46.3 million in Fannie Mae financing for a New York City multifamily portfolio. The portfolio consists of 386 units located in six buildings in Brooklyn and the Bronx. The loan carries a 7-year term, a fixed interest rate, 7 years of interest-only payments and a 30-year amortization schedule. Meridian Capital Group originated the loan. The borrower was not disclosed.

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