MIAMI—1550 Brickell, a 138-unit multifamilycomplex, has secured an $18 million Fannie Mae conventionalrefinance loan. Beech Street Capital provided theloan.
Patrick Boyle, vice president based out ofBeech Street’s Baltimore, Md. office, originated the transaction.The borrower, Green Development Group, pushed torate lock quickly in order to leverage low interest rates.
The transaction rate locked just 12 business days after theapplication was signed. The fixed-rate loan has a 10-year term with9.5 years yield maintenance, and amortization of 30 years payableon an actual/360 basis.
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