PHILADELPHIA-Beech Street Capital has originated $38.5 million financing for multifamily transactions in Philadelphia. In the first deal, Morgan Properties sold an 11-building, 120-unit Red Lion Manor at 10101 Northeast Avenue and a 2-building, 111-unit Cheswick Square at 7949 Ridge Avenue. The buyer of these properties was not revealed.
In the second deal, Beech Street Capital organized a Fannie Mae conventional loan worth $25 million to refinance a 346-unit multifamily property called Greenbriar Club Apartments at 3901 Conshohocken Avenue in Philadelphia. For the full story, go to Philadelphia Business Journal .
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