Beech Street Capital provides $11.4 million for 145-unit apartment complex

Beech Street Capital, LLC provided an $11.4 million Fannie Mae DUS Loan for the acquisition of Windsor Pointe Apartments. Originated by Meridian Capital Group, LLC, the transaction was financed by Beech Street as part of its correspondent relationship with Meridian. Beech Street is a Fannie Mae DUS lender, a Freddie Mac Program Plus® Seller Servicer, and an FHA Multifamily Accelerated Processing (MAP) lender. The apartment complex includes 33 two-story buildings consisting of 145 townhouse-style units that were constructed between 2005 and 2007. Windsor Pointe Apartments is adjacent to a public park, developed in conjunction with the apartment complex, which includes sporting fields, as well as picnic and playground areas. The fixed-rate loan has a term of ten years with 9.5 years of yield maintenance and a thirty-year amortization schedule, with two years interest-only, payable on an actual/360 basis.