ORLANDO—The credit markets are not only thawing, in some cases they are flowing like a river. Beech Street Capital just closed a $22.1 million Freddie Mac CME loan for its client to acquire Highpoint Club, a 348-unit garden-style multifamily complex in Orlando, Florida.

Beech Street senior vice presidents Mitch Sinberg and Michael Wallace, headquartered in Beech Street's Fort Lauderdale office, originated the transaction. The fixed-rate loan has a seven-year term, one-year interest-only period, yield maintenance of 6.5 years, and a 30-year amortizing schedule.

“The borrowers were concerned about the time it would take to complete the transaction,” says Wallace. “We were able to move things along quickly so that they closed within the terms of their purchase and sale agreement.”