Beech Street Capital Closes $19.85 Million Fannie Mae Loan for Athens, GA Apartments

BETHESDA, MD, Oct. 27, 2011 – Beech Street Capital, LLC announced today that it has provided a $19.85 million Fannie Mae conventional loan to refinance Legacy Mill Apartments (top left photo), a Class A multifamily rental community in Athens, Georgia. The transaction closed in less than 45 days from application to close.

A gated community, Legacy Mill features such amenities as a resort-style swimming pool with expansive sundeck, tennis courts, 24-hour fitness center, business center, clothes care center, and car care center. Its 352 units are distributed among 10, three-story buildings.

 The property is located just minutes from restaurants, shopping, entertainment in downtown Athens and the University of Georgia. “This is a very attractive property,” comments Chad Thomas Hagwood (lower right photo), executive vice president based out of Beech Street’s Birmingham, Alabama office and originator of the transaction. “At Beech Street, we welcome opportunities in areas outside major tier cities.”

The fixed-rate conventional loan has a 10-year term and a 30-year amortization schedule.

For additional information, contact:

Courtney Lewis

240-507-1948

clewis@beechstcap.com