ATLANTA—Despite tight deadlines, Beech Street Capital closed two Freddie Mac loans for Azure Partners, a real estate private equity firm based in New York City. The first was a $14.2 million Freddie Mac CME loan to acquire Hamptons at Sandy Springs, a 236-unit multifamily property in Roswell, GA. The second was a $32.8 million Freddie Mac CME loan for the purchase of the 261-unit Aston Woods Apartments in Silver Spring, MD.

In both cases Azure wanted to rate lock within as few days as possible of the deposit on its purchase contract becoming nonrefundable. By closely coordinating with Freddie Mac, Beech Street met the borrower's compressed deadlines. Both 10-year, fixed-rate loans have partial interest only terms and amortize based on a 30-year schedule after the interest only period.

In the case of the Hamptons at Sandy Springs, the firm got a quote the same day it submitted to Freddie Mac and reduced the turnaround to eight days. With Aston Woods, Beech Street underwrote the transaction and submitted it to Freddie Mac in less than two weeks. Freddie Mac was able to deliver a commitment two weeks later.