Beech Street Capital Closes $21.7 Million Freddie Mac Loan to Acquire Boynton Beach, FL Apartments

 BETHESDA, MD – Beech Street Capital, LLC, announced it closed a $21.7 million Freddie Mac Capital Markets Execution loan used to acquire Ashley Lake Park (top left photo), a 300-unit apartment complex in Boynton Beach, Florida.

Mitch Sinberg (lower right photo) and Michael Wallace, senior vice presidents in Beech Street’s Fort Lauderdale and Orlando offices, originated the transaction.

Located in the Palm Beach MSA, Ashley Lake Park is approximately 10 minutes from the beach and less than one-half mile from Boynton Beach Boulevard, which provides direct access to Interstate 95.  Beach Regional Mall is just two miles away.  Built in 1987, the property offers a series of upscale amenities including a 24-hour fitness center, basketball court, two resort style pools, Jacuzzi, laundry facility, playground, tennis court, and clubhouse with Wi-Fi.

 The fixed-rate loan has a seven-year term with two years interest-only.

 For a complete copy of the company’s news release, please contact:

Courtney Lewis at 240-507-1948 or Jenifer Bernardi at 240-507-1946.