NEW BRUNSWICK–Beech Street Capital has provideda $32 million Freddie Mac CME loan for the refinance of RaritanCrossing Apartments, a 376-unit complex in New Brunswick.

The fixed-rate loan has a seven-year term and 30-yearamortization. The transaction was originated by AviWeinstock and Josh Rhine ofMeridian Capital Group, and it was financed aspart of Beech Street’s correspondent relationship with Meridian.

The borrower’s identity was not disclosed by the lender. However, public records indicate the complex at 18 RegencyManor Drive was acquired in 2005 by a limited liabilitycorporation, DJN Raritan Crossing. Joel Willard,the vice-president of credit for Beech Street, said the complexowner has 27 multi-family properties in the Northeast, many of themlocated in central New Jersey. Over the past two years, he hascompleted substantial improvements to the complex, which is morethan 20 years old, Willard said in a statement about the loan.