BEECH STREET SECURES $42 MILLION FANNIE MAE LOAN FOR NYC PORTFOLIO

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NEW YORK CITY — Beech Street Capital has secured $42 million in Fannie Mae DUS financing for a New York City multifamily portfolio. The portfolio comprises six high-rise rental buildings located in Manhattan and the Bronx that contain a total of 416 units. The loan has a 10-year term with a fixed interest rate, 9.5 years of yield maintenance and a 30-year amortization schedule. Avi Weinstock of Meridian Capital Group originated the deal, which was financed by Beech Street Capital.

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