144
WOODBRIDGE, VA. — Beech Street Capital has closed on a $49.5 million Freddie Mac CME loan for the acquisition of an apartment property located in Woodbridge. Misty Ridge Apartments comprises 25 two-story buildings containing a total of 409 units. The community also contains a clubhouse/leasing building, a fitness room, a laundry room, a playground and a dog run. The seller, Klingbeil Capital, has renovated 130 of the community’s units to date. Barry Lefkowitz of Meridian Capital Group originated the loan on behalf of Beech Street, which financed it. The loan carries a 7-year term with 1 year of interest-only payments, 6.75 years of defeasance and a fixed rate.