Legacy Village Apartments, Springfield, TN
BETHESDA, MD – Beech Street
Capital, LLC announced it has provided a $10 million Fannie Mae DUS loan for
the refinance of Legacy Village Apartments, a 212-unit apartment complex
in Springfield, Tennessee.
 |
| Damon Reed |
The transaction was originated by
Damon Reed, vice president based out of Beech Street’s Birmingham,
Alabama office.
The first time borrower purchased Legacy Village in 2011 and
was looking to retire existing debt, cover closing costs and escrow funds
required for completion repairs. .
The borrower has over 30 years of experience in various
aspects of commercial and residential real estate including acquisition,
renovation, construction and management.
The property is located in Robertson County, part of the Nashville
MSA, and is in close proximity to several major arteries of transportation
which provide direct access to downtown Nashville. Springfield is located 30
miles north of Nashville and 12 miles from the Kentucky state line.
The property consists of twenty-nine, two-story buildings on over
15 acres. Amenities include a community
pool, fitness center, car care facility and a children’s playground.
The fixed-rate loan has a 10-year term with a 30-year amortization
schedule with an all in interest rate in the high three percent range.
For a complete copy of the company’s news release, please contact:
Courtney Lewis
240-507-1948
Jenifer Bernardi
240-507-1946.
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