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Last Updated ( 03/28/2012 15:57 )
DATE_FORMAT_LC2=Tuesday,March 27 2012 05:00:00 AM   
Beech Street Capital Provides $11 Million to Refinance UC-Davis Apartments

BeechStreetWEBTemescal Apartments as well as nearby Pepperwood Apartments have been refinanced with $11 million in Fannie Mae DUS loans.Davis, Calif. — Beech Street Capital has announced it's provided $11 million in Fannie Mae DUS loans to refinance two student housing properties in Davis, California, which serve the University of California-Davis.

 

The transaction was originated by Joel Mazur, vice president based out of Beech Street's Chicago office. The complexes were developed and are owned by the borrower and are located less than one mile from each other in the Sacramento MSA. Temescal Apartments is a 100-unit complex that is 91 percent occupied and Pepperwood Apartments consists of 41 units with more than 97 percent occupancy. Approximately 50 perent of the student populations at both properties are graduate students.


 

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