BEECH STREET ARRANGES $30.4 MILLION APARTMENT LOAN IN NYC

NEW YORK CITY — Beech Street Capital has arranged a $30.4 million loan for the refinancing of a five-property multifamily portfolio. The portfolio consists of a mix of mid- and high-rise buildings located in Brooklyn that total 557 units. The properties include The Ashley, Bay Plaza, The Bradley, Carlton and The Eden Rock. The loan carries a fixed interest rate, a 5-year term, 5 years of interest-only payments and 4.5 years of yield maintenance. The lender was Fannie Mae. Meridian Capital Group originated the loan. The borrower's name was not disclosed.