BEECH STREET CLOSES $34M LOAN FOR VALLEY FORGE TOWERS NORTH

KING OF PRUSSIA, PA. — Beech Street Capital has provided a $34 million, 10-year loan for the refinancing of Valley Forge Towers North, a 242-unit, 15-story apartment building in King of Prussia. Galman Group, which owns and manages more than 7,000 apartment communities and condominiums, was the borrower. The property includes one-, two- and three-bedroom units ranging in size from 1,079 square feet to more than 1,600 square feet. The property also features 11,000 square feet of office space, 19,000 square feet of retail, 8,000 square feet of commercial storage and 178 garage parking spaces. The fixed-rate loan includes a 30-year amortization schedule. Brian Sykes in Beech Street’s Boston office originated the transaction.