BEECH STREET CLOSES $16.5M LOAN FOR CRYSTAL PALMS

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BOCA RATON, FLA. — Beech Street Capital LLC has closed a $16.5 million Fannie Mae conventional loan to refinance Crystal Palms, a 175-unit garden-style multifamily property in Boca Raton. The borrower, Scully Co., currently operates 30 properties in Pennsylvania, New Jersey, Connecticut and Florida, and manages garden-style and high-rise communities ranging in size from 88 to 1,000 units. Crystal Palms includes two-story, garden-style buildings and amenities include a pool, fitness center and tennis courts.

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