The properties are located in the Boston-Cambridge-Quincy MSA.
Mike Edelman, senior vice president of production in Beech Street’s New York office, originated the transaction.
“This transaction illustrates Beech Street’s determination to structure our loans so that they are as close to the borrowers’ specifications as possible,” Edelman said in a press release.
Built in the 1960s, the Coach House Apartments and the Carriage House Apartments have has their own amenities packages and private entrances.
The fixed-rate loan has a 10-year term with one-year interest-only, 9.5 years yield maintenance and a 30-year amortizing schedule, the company said.
