BETHESDA, MD – Beech Street Capital, LLC announced that it has provided an $11.2 million Freddie Mac CME loan to refinance Woodhollow Apartments (top left photo) in Orlando, Florida.
The transaction was originated by Jacob Katz of Meridian Capital Group, LLC, and was financed by Beech Street Capital as part of its correspondent relationship with Meridian.
Woodhollow Apartments consists of 318 garden-style units housed in 33, one- and two-story buildings spread out over 15 acres. “This is a quality property with an experienced sponsor,” comments Grace Huebscher (lower right photo), President and CEO of Beech Street Capital. “We look forward to continuing to pursue opportunities in the Florida market.”
Located in Orange County, just to the southwest of downtown Orlando, the Orlando South submarket holds the metro’s youngest demographic with higher renter-occupied units than average.
The upscale 150-store Mall at Millennia opened in 2002 and since has spurred significant growth in the area including new high-end apartment and condo buildings, single family homes, and corporate office buildings. Nearby recreational attractions include Walt Disney World, Universal Orlando and International Drive shopping district.
The fixed-rate loan has a 10-year term.
Web site: www.beechstcap.com
Web site: http://www.meridiancapital.com/
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