BETHESDA, MD, MAY 29, 2012– Beech Street Capital, LLC announced today that it closed a $4.5 million Fannie Mae conventional loan for the refinance of Bentwood Apartments (top left photo), a 120-unit multifamily community in Birmingham, Alabama.
The transaction was originated by Chad Thomas Hagwood (lower right photo), executive vice president based out of Beech Street’s Birmingham, Alabama office.
Bentwood Apartments is located in the northern portion of the Birmingham MSA, about 14 miles northeast of the Birmingham central business district, with convenient access to 1-59, a primary thoroughfare to the rest of the Birmingham MSA.
Built in 1983, with consistent improvements over the years, most recently in 2011, the property consists of ten, two-story buildings on approximately eight acres.
The fixed-rate loan has a 10-year term with a 30-year amortization schedule.
Contact:
Courtney Lewis, 240-507-1948, clewis@beechstcap.com
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