Beachwold Residential Secures $302M Freddie Mac Loan
The firm obtained the financing for a 10-property multifamily portfolio in Connecticut.
MANCHESTER, CT – Beachwold Residential has secured $302 million in financing from Freddie Mac for a 10-property multifamily portfolio in Connecticut.
Walker & Dunlop Inc. secured the financing on behalf of Beachwold Residential.
More than 75% of the 2,286-unit portfolio qualifies as mission-driven, affordable housing under FHFA guidelines.
Completed between 1926 and 2008, the 10 communities are primarily situated in infill locations throughout central Connecticut.
The portfolio’s oldest property, 278 Main, was originally a schoolhouse before being converted into an apartment building. The portfolio additionally contains a former mill that was recently converted to loft apartments, named Lofts at the Mills.
Walker & Dunlop’s capital markets group managing director Taylor Williams structured the new loan, which provided Beachwold Residential with an attractive fixed-rate and additional proceeds.
“Taylor Williams and his team are experts,” says Gideon Friedman, CEO of Beachwold Residential. “They provided clear and prescient guidance throughout the process, and their reaction time to any queries we had was exceptional. They are truly professionals when it comes to dealing with this type of transaction.”