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.
Berkadia, a distinguished leader in the commercial real estate sector, announces that it secured a $31.5 million bridge loan on behalf of the sponsor, Midtown Capital, to complete construction of The Astoria, a new 149-unit apartment community in Salt Lake City, Utah. Located in the city’s emerging Fairpark District, where a new Major League Baseball stadium is being planned, the apartment community is slated for completion in the third quarter of 2025.
Managing Director Scott Wadler and Vice President-Originations Patrick Johnson, along with Senior Managing Director Mitch Sinberg and Managing Directors Brad Williamson and Matt Robbins of Berkadia Miami and Boca Raton, secured the financing for Midtown Capital, a vertically integrated real estate development and management company with offices in Miami, West Palm Beach, and Madrid, Spain. Its $1 billion portfolio includes commercial and residential properties in Florida, Texas, Georgia, Illinois, and Utah.
New York City-based lender RMWC provided the two-year, floating-rate loan to refinance the existing construction loan and fund the project’s completion.
“The Fairpark District is undergoing rapid revitalization following a December vote in favor of upzoning to allow for the development of a major mixed-use development project and, eventually, a new stadium that could lure an MLB franchise to Salt Lake City,” said Wadler. “The Astoria will provide much-needed housing to this centrally located, rapidly growing neighborhood in Salt Lake City.”
Located at 11 N 800 West, The Astoria is a seven-story property featuring a mix of micro units (372 square feet), studios (545 square feet), and one- and two-bedroom apartments (up to 955 square feet). The property is adjacent to the Jackson/Euclid light rail station, allowing for immediate access to the SLC International Airport, which is currently undergoing a major expansion, the Delta Center, home of the Utah Jazz basketball team, and the heart of Downtown Salt Lake City, just five minutes away.
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, announced today the refinancing of Advenir at Magnolia, a 272-unit, garden-style multifamily community located in the Fern Park suburb of Orlando, Florida. Senior Managing Director Charles J. Foschini, Managing Director Christopher Apone, Vice President-Originations Lourdes Carranza-Alvarez and Associate Director Shannon Wilson of Berkadia Miami originated a $23.168 million loan on behalf of the sponsor, Advenir@Magnolia LLC.
Berkadia originated, and Freddie Mac purchased, the five-year, fixed-rate loan with an extended interest only period and a 60% loan-to-value ratio.
“Our partnership with Freddie Mac continues to create market-leading options for our clients,” said Foschini. “Once a decision was made not to sell the asset, we were able to provide a timely refinance of this property and return equity to the borrower just ahead of a pending loan maturity.”
Advenir at Magnolia is a two-story, garden-style property located on 13 acres at 210 Welcome Way, approximately 10 miles north of Downtown Orlando. It offers a mix of studio, one- and two-bedroom apartments averaging 800 square feet. Amenities include two resort-style pools, grilling stations, a 24/7 fitness center, business center, a lighted tennis court, two basketball courts and three racquetball courts, and laundry facilities.
Located in the Fern Park suburb of Seminole County, the property is conveniently located near the Casselbery exchange of US-17/92 and FL-436, offering quick access to retail and employment centers in Maitland, Winter Park, and Altamonte Springs, along with Downtown Orlando, which is a 20-minute drive away. It is also just minutes from the Altamonte Mall and AdventHealth Altamonte Springs.
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.
