Berkadia, a distinguished leader in the commercial real estate sector, is pleased to announce the sale and financing of Sage Creek Apartments, a 120-unit, garden-style multifamily property located in Augusta, Georgia.
Berkadia Atlanta represented the seller, Jan investor group led by JJM Realty Holdings, LLC, and Berkadia DC Metro secured a $11.375 million Fannie Mae acquisition loan on behalf of the buyer, Blackfin Real Estate Investors, LLC. The full deal team is listed below.
"The seller did a great job of maintaining the asset and setting up the buyer to implement the next phase of renovation,” said Mike Riley. “Sage Creek’s location, year built, and interior scope make for the ideal light value add play. It was a pleasure working with both parties.”
“It was a pleasure to work alongside Blackfin Real Estate Investors on their acquisition of Sage Creek Apartments." said Patrick McGlohn. "We focused on structuring the financing to support their investment objectives and on providing guidance throughout the process. We appreciate the trust Blackfin placed in us and look forward to seeing Sage Creek’s continued success.”
Located at 1315 Marks Church Road, Sage Creek Apartments was thoughtfully crafted to provide residents with exceptional living, enhanced by its central location in Richmond County. Comprised of 120 contemporary units, Sage Creek Apartments offers a distinctive rental experience complemented by a robust amenity package. Featuring granite countertops, stainless steel appliances, wood-look flooring, and a suite of community amenities including a swimming pool, fitness center, and clubhouse, Sage Creek caters to discerning renters seeking both comfort and convenience; the property was constructed in 2016.
Senior Managing Directors Andrew Mays and Paul Vetter, Senior Director Mike Riley, and Director Ian Shaw represented the seller. The financing efforts were led by Senior Managing Director Patrick McGlohn, Managing Directors Brian Gould and Ted Hermes, Senior Director Miles Drinkwalter, and Associate Director Natalie Hershey.
Property photos available upon request.
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.
About Blackfin Real Estate Investors
Founded in August 2016 by Andrew Buchanan and Doug Root, Blackfin Real Estate Investors is focused on acquiring Class B and Class C value add and core plus apartment communities across the East Coast of the United States. Blackfin’s hands-on asset management approach and full-service general contracting company enable it to take an active and wholistic approach to every aspect of the investment. Blackfin’s 4 key executives have over 110 years of combined experience and complimentary skills acquiring, financing, renovating, and operating multifamily real estate. Blackfin’s portfolio currently consists of 10,000 units that represent a total asset value of over $2 Billion. The portfolio geography spans from Boston through Florida and includes assets in Boston, Suburban Maryland, Northern Virginia, Richmond, Hampton Roads, Charlotte, Raleigh-Durham, Greensboro, Wilmington, Charleston, Orlando, Tampa, and Nashville. For more information contact 703-778-7641 or visit www.blackfinrei.com.
