ALPINE GARDENS APARTMENTS REFINANCED IN QUEENS

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NEW YORK CITY — Beech Street Capital has secured $13 million in Fannie Mae DUS funds for the refinancing of Alpine Gardens Apartments in Queens. The property consists of four six-story buildings containing a total of 216 units. The loan carries a fixed interest rate, a 10-year term with 4 years of interest-only payments, 9.5 years of yield maintenance and a 30-year amortization schedule. Beech Street Capital arranged the loan, and Meridian Capital Group originated it.

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