BEECH STREET ARRANGES $13 MILLION LOAN FOR BROOKLYN APARTMENTS

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NEW YORK CITY — Beech Street Capital has arranged $13 million in Fannie Mae DUS financing for a multifamily building in Brooklyn. The property, which is located at 342 Eldert St., was completed in April. It contains 60 loft-style units as well as a fitness center, an indoor pool, a sauna and a recreation room. The loan, which was originated by Meridian Capital Group, has a fixed interest rate, a 10-year term with interest-only payments, 9.5 years of yield maintenance and a 30-year amortization schedule on an actual/360 basis.

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