Berkadia, a distinguished leader in the commercial real estate sector, announces that it secured a $33.3 million loan for the acquisition of Gateway on 4th Apartments, a 304-unit multifamily asset in St. Petersburg, Florida. 

Managing Director Brad Williamson and Associate Director Wes Moczul, along with Senior Managing Director Mitch Sinberg, and Managing Directors Scott Wadler and Matt Robbins of Berkadia Miami and Boca Raton, arranged the financing on behalf of a Texas-based firm. The deal closed on June 30. 

Berkadia originated a Freddie Mac-backed fixed-rate loan with a five-year term and three-years interest-only.

“The sponsor saw an opportunity to expand its footprint in Florida with a well-located multifamily asset in good condition with an exceptionally strong occupancy history in one of Florida’s fastest-growing metros,” said Williamson. “Freddie Mac provided competitive terms that will allow the firm to confidently execute on its business plan.”

Built in 1974 and located at 501 116th Avenue, Gateway on 4th Apartments consists of 32 two-story apartment buildings on a 15-acre site offering a mix of one-, two- and three-bedroom apartments ranging from 618 square feet to 1,498 square feet. Amenities include a swimming pool with sundeck, 24-hour fitness center, bark park, dog wash station, outdoor kitchen with picnic seating, firepit area, jogging trail, and children's playground. Renovations planned for the community include adding washer/dryers to units, installing new appliances, and replacing floors and fixtures as needed.

Conveniently located 5 minutes from I-275 and Highway 92, Gateway on 4th Apartments is just 20 minutes from downtown Tampa, 15 minutes from Downtown St. Petersburg, and 25 minutes from the beaches of St. Pete. It is located near several of the area’s top schools and employers, including Pinellas County Schools, St. Petersburg College, Galen College of Nursing, Publix, Jabil, HSN, and HCA Florida Northside Hospital. 

About Berkadia®:

Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets. 

To learn more about Berkadia, please visit www.berkadia.com.

Berkadia, a distinguished leader in the commercial real estate sector, announces that it arranged the debt and equity recapitalization of Pointe at Carrollwood, a 224-unit value-add apartment community located in northwest Tampa, Florida. Berkadia was able to provide an attractively priced recapitalization for the borrower combining fixed-rate agency financing with preferred equity to solve for the property's upcoming loan maturity.

Managing Director Scott Wadler and Senior Director Matt Nihan, Managing Directors Matt Robbins and Brad Williamson, and Senior Managing Director Mitch Sinberg of Berkadia Miami and Boca Raton negotiated the financing package on behalf of the Sponsor, Miami-based Beacon Real Estate Group. 

Berkadia originated and Freddie Mac provided a $29.93 million, five-year fixed-rate loan. In addition, Miami-based Atlantic Pacific Companies, a privately owned real estate firm with expertise in acquisitions, credit, development, and management of multifamily communities throughout the United States, provided a preferred equity investment of $8.42 million, for a total financing package of $38.35 million.

Beacon purchased the property in March of 2022 and has since invested more than $3.6 million in capital improvements. The property is currently 95% occupied.

“Proceeds of the loan will be used to pay off the prior acquisition loan and allow the Sponsor to continue its value-add business plan” said Wadler. “Carrollwood is one of Tampa’s top-performing submarkets for rent growth, and benefits from an infill location that assures limited competition from new development, a prime location close to downtown and major employment centers, and affluent surroundings.”

“We are excited to support Beacon Real Estate Group in the recapitalization of Pointe at Carrollwood. This investment aligns with our strategy of providing structured capital solutions for well-located multifamily assets in high-growth markets like Tampa,” said Matthew Cohen, Vice President at Atlantic Pacific Companies.

Built in 1984 and located at 4949 Marbrisa Drive, Pointe at Carrollwood is situated in a natural conservation area of Tampa, surrounded by lush landscaping and natural lakes. It offers one- and two-bedroom apartments ranging from 629 square feet to 1,050 square feet. Renovated units include modern cabinetry and stainless-steel appliances, quartz or granite countertops, designer details, walk-in closets and an expansive balcony or patio with lakefront or tropical views. Community amenities include a pool with poolside grilling, a fitness center, boardwalk, 24-hour laundry center, car care station, a playground, on-call maintenance and a natural preserve.

Point at Carrollwood is located approximately 15-20 minutes from downtown Tampa, Tampa International Airport, Busch Gardens and the Westshore Business District. Carrollwood is one of Tampa’s top-performing submarkets for rent growth, and benefits from an infill location that assures limited competition from new development, prime location close to downtown and major employment centers, its affluent surroundings.

Berkadia, a distinguished leader in the commercial real estate sector, announced today the successful refinancing of Amberleigh Apartments, a 752-unit, garden-style, multifamily community located in Fairfax, Virginia. On behalf of the Sponsor, Redbrick LMD, Berkadia DC Metro secured a $129.4 million financing package, consisting of a $113.8 million Freddie Mac loan and a $15.6 million preferred equity investment from an undisclosed provider. 

The financing efforts were led by Senior Managing Director Patrick McGlohn, Managing Director Brian Gould, Senior Director Miles Drinkwalter and Associate Director Natalie Hershey.

"We were pleased to source a compelling refinancing solution for Redbrick LMD with the combination of a long-term agency loan alongside a preferred equity investment,” said Gould. “We extend our gratitude to the Redbrick LMD team for their trust and collaboration and are pleased to have worked with them on another successful financing." 

Based in Washington D.C., Redbrick LMD is a diversified real estate investment management and development firm focusing on proprietary, large-scale, institutional quality assets. One of the largest private landowners in the District, Redbrick has a build-to-core development pipeline of approximately eight million square feet as well as a comparable amount of early-stage development located across the country.

“We are pleased to finance our apartment community with a Freddie Mac loan, and to help address the need for more workforce housing in this area,” added William Passmore, Managing Partner at Redbrick LMD. “The Berkadia team did an excellent job navigating a choppy capital market environment and lined up a very attractive financing outcome.”

Located in the Merrifield submarket of Fairfax, Virginia, the Amberleigh multifamily community is strategically positioned just outside Washington D.C.’s Capital Beltway, offering unparalleled access to Northern Virginia’s Growth Corridor. Amberleighoffers a variety of units with top-notch amenities, including private balconies, a fitness center, a swimming pool, and a clubhouse. Its proximity to the Dunn Loring-Merrifield Metro Station, Tysons Corner, and the Mosaic District ensures convenient access to top employers, award-winning schools, and premier dining and retail options. Additionally, Amberleigh is adjacent to Inova Fairfax Hospital, Virginia’s #1 ranked hospital, further enhancing its appeal.

Berkadia, a distinguished leader in the commercial real estate sector, announced today the successful refinancing of Amberleigh Apartments, a 752-unit, garden-style, multifamily community located in Fairfax, Virginia. On behalf of the Sponsor, Redbrick LMD, Berkadia DC Metro secured a $129.4 million financing package, consisting of a $113.8 million Freddie Mac loan and a $15.6 million preferred equity investment from an undisclosed provider. 

The financing efforts were led by Senior Managing Director Patrick McGlohn, Managing Director Brian Gould, Senior Director Miles Drinkwalter and Associate Director Natalie Hershey.

"We were pleased to source a compelling refinancing solution for Redbrick LMD with the combination of a long-term agency loan alongside a preferred equity investment,” said Gould. “We extend our gratitude to the Redbrick LMD team for their trust and collaboration and are pleased to have worked with them on another successful financing." 

Based in Washington D.C., Redbrick LMD is a diversified real estate investment management and development firm focusing on proprietary, large-scale, institutional quality assets. One of the largest private landowners in the District, Redbrick has a build-to-core development pipeline of approximately eight million square feet as well as a comparable amount of early-stage development located across the country.

“We are pleased to finance our apartment community with a Freddie Mac loan, and to help address the need for more workforce housing in this area,” added William Passmore, Managing Partner at Redbrick LMD. “The Berkadia team did an excellent job navigating a choppy capital market environment and lined up a very attractive financing outcome.”

Located in the Merrifield submarket of Fairfax, Virginia, the Amberleigh multifamily community is strategically positioned just outside Washington D.C.’s Capital Beltway, offering unparalleled access to Northern Virginia’s Growth Corridor. Amberleighoffers a variety of units with top-notch amenities, including private balconies, a fitness center, a swimming pool, and a clubhouse. Its proximity to the Dunn Loring-Merrifield Metro Station, Tysons Corner, and the Mosaic District ensures convenient access to top employers, award-winning schools, and premier dining and retail options. Additionally, Amberleigh is adjacent to Inova Fairfax Hospital, Virginia’s #1 ranked hospital, further enhancing its appeal.

Berkadia, a distinguished leader in the commercial real estate sector, announces that it secured a $35.75 million loan to refinance 829 Garfield, a 110-unit multifamily property with ground floor retail in Jersey City, New Jersey.  

Director Michael Basinski, along with Senior Managing Director Mitch Sinberg, Managing Directors Scott Wadler, Brad Williamson and Matt Robbins of Berkadia Miami and Boca Raton secured the financing on behalf of the sponsor, Tay Investments, a private equity real estate firm led by Yuval Shram with investments in North America and Europe. 

Berkadia originated the Fannie Mae-secured fixed-rate loan with a five-year term.

“The agencies remain committed to supporting high-quality developments that align with their mission of providing liquidity for affordable workforce housing. The Sponsor delivered an exceptional property, which enabled us to structure optimal financing,” explained Basinski.

Built in 2022 at 829 Garfield Ave., the property is a fully stabilized multifamily community featuring a mix of market-rate and 10% affordable apartments, along with 10,100 square feet of ground floor commercial space. A daycare center occupies approximately 6,100 square feet. 829 Garfield offers two- and three-bedroom floor plans with stainless steel appliances and quartz countertops in kitchens, radiant heated flooring in the bathrooms, walk-in closets, LED lighting, multi-zone heating & cooling units, private patios and expansive windows with direct views of New York City in some units.

“We are proud to deliver a high-quality building that not only meets the growing demand for affordable housing but also enhances the neighborhood. Partnering with the agencies is a testament that you can build a sustainable project at affordable rates and demonstrates our commitment to creating lasting value for residents,” said Yuval Shram. 

829 Garfield is centrally located in the heart of Bergen-Lafayette, a half block from the Garfield Avenue Light Rail Station, a quick bike ride to Liberty State Park and just minutes from express transportation directly into New York City. The property is situated near the area's key demand drivers, including the Liberty Science Center, Liberty National Golf Club, Ellis Island Immigration Museum, Downtown Jersey City, and New York City, along with Newark International Airport.

Berkadia, a distinguished leader in the commercial real estate sector, is pleased to announce the successful financing of Hawks Landing, a 144-unit garden style multifamily property located in Hickory, North Carolina. The financing, totaling $18.4 million, was secured through Berkadia’s proprietary lending platform by Managing Director Brian Gould, Senior Director Miles Drinkwalter, and Vice President Pat Cunningham of Berkadia DC Metro. 

The acquisition financing was arranged on behalf of the buyer, Maryland-based Klein Enterprises, a distinguished fourth-generation real estate company. Klein Enterprises is a 75-year-old company with nearly 60 assets comprising over 6 million square feet, including 3.5 million square feet of commercial properties and approximately 3,000 Class A multifamily units owned or in development. Klein Enterprises purchased the asset in collaboration with RM Communities, an owner of over 2,700 multifamily units.

"The Klein team approached us with a tight closing timeline of just 29 business days," explained Gould. "Berkadia’s proprietary bridge lending program provided the sponsor with a competitive source of interim short-term financing enabling a swift closing to meet our client’s acquisition timeframe.”

“Given suboptimal performance by prior ownership, the Berkadia PLG financing allows our new ownership team the perfect solution to implement a value-add program, improve property performance and enter into a permanent financing at the optimal time,” added Sean Garland, Klein Enterprises’ Chief Investment Officer. "The Berkadia team offered a flawless execution under a very quick turnaround."

Built in 2018, Hawks Landing, located at 2778 2nd East Street, offers residents convenient access to a variety of amenities and attractions in Hickory. The property is just minutes away from vibrant downtown shops, scenic parks, and Lake Hickory. Residents can enjoy a large swimming pool, a poolside sundeck with ample seating, an outdoor BBQ grilling area, a fully equipped fitness center, a fenced pet park, a spacious clubhouse, and a business center.  

Strategically located near major employers such as Frye Regional Medical Center, Catawba Valley Medical Center, Lenoir-Rhyne University, and manufacturing giants like CommScope and Corning, Hawks Landing offers residents’ proximity to key employment hubs. Additionally, the property is just an hour from Charlotte, Asheville, and Winston-Salem, providing convenient access to major employers, international transportation hubs, and professional sporting events, while maintaining the small-town charm of Hickory. Nearby attractions include the trails and lakes of Bakers Mountain Park, Geitner Park, and Lake Hickory.