INSIDE THE DEAL: Beech Street Capital provides $1.6M Fannie Mae Permanent Loan
April 22, 2010
Beech Street Capital, LLC provided a $1.6 million fixed-rate loan for the refinance of Steven’s Walk Apartments. The transaction was originated by Beech Street Capital under the Fannie Mae DUS Small Loan program.
Beltsville, Md.– Beech Street Capital, LLC provided a $1.6 million fixed-rate loan for the refinance of Steven’s Walk Apartments. The transaction was originated by Beech Street Capital under the Fannie Mae DUS Small Loan program.
The fixed-rate loan has a term of five years, with three years of yield maintenance, and a 30-year amortization schedule on an actual/360 basis. The loan was structured to provide the borrower with flexible pre-payment options, according to Beech Street Capital.
Steven’s Walk Apartments is a garden-style complex that consists of 64 multifamily units. The complex was constructed in 1965 and is located in Beltsville, Md. The units have recently updated kitchen and bathrooms.
