BEECH STREET SECURES $32M APT REFI IN DEL.

BEAR, DEL. — Beech Street Capital has secured $32 million in Fannie Mae financing for Christiana Meadows, a 648-unit, garden-style apartment community located in Bear. The borrower, School House Trust, plans to use the proceeds to pay off the property's existing $26.4 million debt. Bryan Sykes of Beech Street's Boston office originated the loan. The borrower's name was not released.