Beech Street Inks $47M in Freddie Mac Loans

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.