BEECH STREET CLOSES $12M TO REFI TWO SOCAL APTS

NEWPORT BEACH, CALIF. — Beech Street Capital has secured $12.54 million to refinance two apartment complexes in Southern California. This includes the 88-unit Normandy Park apartment complex and the 65-unit Casa La Habra Apartments. Both complexes were built in the early ‘60s, and both are more than 95 percent occupied. The Fannie Mae conventional loans have 10-year terms, fixed rates and a 30-year amortization schedule. Financing was secured by Greg Reed and Kristen Croxton, who recently opened Beech Street’s Newport Beach office.