Berkadia, a distinguished leader in the commercial real estate sector, announces that it has arranged a $37.17 million loan to refinance Pointe Grand Macon, a new 276-unit Class A multifamily community located in Macon, Georgia.
Senior Managing Director Mitch Sinberg of Berkadia Boca Raton and Associate Director Wesley Moczul of Berkadia Orlando along with Brad Williamson, Scott Wadler, and Matthew Robbins secured the financing on behalf of Hillpointe, a real estate investment firm based in Winter Park, Florida.
Berkadia originated the Freddie Mac-backed seven-year, floating-rate loan with a three-year interest-only period and 35-year amortization. Berkadia also provided the existing bridge loan in 2023.
Hillpointe, one of the nation’s leading multifamily developers and builders, is a fully integrated real estate development and investment management firm focused on the development of market-rate, attainable multifamily housing across the United States Sun Belt. Hillpointe's team of professionals has decades of collective experience in developing, constructing, financing, and managing multifamily assets.
“Pointe Grand Macon recently stabilized, and this refinance replaces a higher-priced bridge loan that Berkadia put on after construction,” explained Moczul. “The new debt significantly frees up cash flow and gives Hillpointe maximum backend flexibility to sell when desired or hold long-term. This is a great example of Berkadia’s full suite of offerings going full-circle from a cash-out balance sheet bridge loan at certificate of occupancy, to a permanent agency take-out loan upon stabilization.”
Built in 2023 at 5530 Riverside Drive, Pointe Grand Macon offers two-bedroom, two-bath apartments. Amenities include stainless steel appliances, high-speed internet, wood-style flooring, quartz countertops, and washer and dryers. The pet-friendly community features EV charging stations, 24-hour fitness center, conference room, community fire pit, and a resort-style swimming pool.
The property is situated near multiple employment, educational, and cultural centers within Macon. A short drive from Interstate 75, the community is minutes away from Mercer University and Middle Georgia State University, two of the largest employers in the area.
Berkadia, a distinguished leader in thecommercial real estate sector, announces that it arranged a $58.33 million loan to refinance The Olivia, a 2018-built, Class A apartment community with 288 units located in Homestead, Florida, approximately halfway between Miami and the Florida Keys.
Senior Managing Director Mitch Sinberg, Director Michael Basinski, Senior Managing Director Patrick McGlohn, and Managing Directors Scott Wadler, Brad Williamson, and Matt Robbins of Berkadia Boca Raton, Miami, and DC Metro, secured the financing on behalf of Denver, Colorado-based Grand Peaks Properties and Washington D.C.-based Artemis Real Estate Partners. Grand Peaks has been the leading buyer of apartments in Miami-Dade County over the past decade, having acquired over 2,700 apartments.
Berkadia originated the Freddie Mac-backed seven-year, floating-rate loan.
The partners acquired the property for $71 million in late 2021 in a Berkadia-brokered transaction and invested heavily in property enhancements over the last three years.
“The sponsors had hyper-local experience in the sub-market allowing them to recognize value where others couldn’t and they executed the business plan to perfection,” said Basinski.
“The Olivia has seen tremendous demand from Miami residents during our hold period, seeking high-quality modern housing at an attractive price point,” said Michael Sommers of Grand Peaks Properties. “We are committed to the long-term growth of the region, and this new loan allows for the continuation of a successful business plan with our partners at Artemis.”
Located on 3.4 acres at 14981 Southwest 283rd Street, The Olivia offers spacious one-, two-, and three-bedroom floor plans up to 1,283 square feet. Individual apartments feature granite countertops, updated cabinetry, and in-home washer and dryer. Community amenities include a swimming pool; clubhouse with business center, fitness center, and coffee bar; a fenced in play area; and proximity to parks, walking paths, and outdoor recreation.
The property is located just minutes from Route 1 and the Florida Turnpike, offering convenient access to major employment centers in Miami (45 minutes north) and theFlorida Keys (45 minutes south), and proximity to local favorites like Homestead Pavilion and Black Point Park & Marina.
Berkadia, a distinguished leader in the commercial real estate sector, announces that it arranged debt and equity to recapitalize The Conley, a 259-unit apartment community located in the Austin, Texas suburb of Leander.
Managing Director Scott Wadler and Senior Director Matt Nihan, along with Senior Managing Director Mitch Sinberg, and Managing Directors Brad Williamson and Matt Robbins, arranged the financing on behalf of the sponsors, a joint venture between Beacon Real Estate Group and Constellation Group, both of Coral Gables, Miami.
Lender Lasalle provided a loan with a three-year term and two 12-month extension options. A Los Angeles-based preferred equity partner also contributed capital to the deal, which closed on July 30. The property is fully stabilized.
“Despite a volatile rate environment and challenging Austin market fundamentals, Berkadia was able to arrange a collaborative and creatively structured senior debt and preferred equity capital stack to refinance the existing mortgage on the property,” said Wadler.
Built in 2020 at 665 N. Bagdad Road, The Conley offers thoughtfully designed one-, two-, and three-bedroom apartments featuring modern living spaces with 10-foot ceilings, high-end appliances and stylish finishes. Resort style community amenities include a sparkling pool, 24-hour fitness center, resident lounge with coffee bar, co-working space and a pet park.
Leander is a charming suburb approximately 40 minutes north of downtown Austin. The property offers residents convenient access to the town’s new downtown district, the Northline, featuring premium shopping and dining destinations, as well as nearby parks and recreation areas like Brushy Creek Lake Park and Devine Lake Park.
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 a $56.62 million loan for Mesa West Capital to recapitalize The Easton Riverview, a 300-unit garden-style Class A multifamily community located in South Hillsborough County, approximately 30 minutes south of downtown Tampa, Florida.
Managing Director Scott Wadler and Senior Managing Director Mitch Sinberg of Berkadia Boca Raton and Miami, along with Vice President Bryan Brown of Berkadia Tampa, arranged the financing on behalf of the sponsors, a joint venture between Cross Lake Partners of New York, GreenPointe Holdings of Jacksonville, Florida and Rivers Residential LLC of Atlanta, Georgia.
Mesa West Capital’s Executive Director Russell Frahm and Vice President Brian Hahn provided a three-year, floating-rate loan. The deal closed on July 22.
“This financing allows the borrower to pay off its construction loan and have prepay flexibility to either sell or place permanent financing at an opportunistic time in the future,” said Wadler.
Built in 2023 on 15.51 acres at 14471 Stagedoor Johnny Place in the town of Ruskin, The Easton Riverview offers a mix of one-, two-and three-bedroom floor plans ranging from 821 to 1,487 square feet. Community amenities include a pool with cabanas, 24-hour fitness center with yoga room, two dog parks and dog spa, dual EV charging stations, community club room, shuffleboard, storage units and car ports available for rent.
Conveniently located between I-75 and US-301, The Easton Review is the only apartment community located within the larger 932-acre Belmont mixed-use master-planned community, which features 1,930 single-family homes and townhomes by Lennar, along with an impressive mix of retail, schools and parks. The property is within walking distance to the Belmont Shopping Center and the Goddard School, an early development preschool, is planned just north of the property at the Belmont main entrance.
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.
Amid a shifting capital markets landscape, the Berkadia Florida mortgage banking platform closed $1.15 billion in property financings between June 1 and July 31, supporting a wide range of client needs with a well-rounded mix of acquisitions, refinances, and ground up construction loans.
In total, the Florida-based team, led by Senior Managing Director Mitch Sinberg of Berkadia Boca Raton, executed 35 deals across the country, including 12 acquisition loans, two equity raises, one construction loan, three land loans, and 17 strategic refinances.
“A flurry of activity this spring yielded strong closings this summer totaling over $1 billion in deal volume in the past 60 days,” said Sinberg. “As these transactions illustrate, there’s plenty of debt available for quality assets and experienced sponsors; the challenges are limited for-sale multifamily inventory and elevated construction costs. Florida’s strong fundamentals, and global demand for luxury apartments and condos in every major metro, continues to fuel demand for Berkadia’s deep expertise and strong relationships with a full spectrum of capital providers.”
Private debt funds provided approximately $359 million in capital, while government-sponsored enterprises (Freddie Mac and Fannie Mae), accounted for $417 million in financing volume, reflecting Berkadia’s ongoing leadership with the GSEs. (Berkadia was named the #1 Freddie Mac lender by volume in 2024 – its fourth consecutive year holding the top spot – and the #2 Fannie Mae DUS lender.) The remaining $374 million was provided by banks, life companies, conduits and equity groups.
Notable transactions that Berkadia Florida closed this summer include:
- $87.5 million acquisition financing on behalf of Related Group, Dezer Development, and BH Group for the Miami Beach Club site in Sunny Isles Beach, Florida, one of the largest land transactions in the market in recent years
- $56 million on behalf of the joint venture sponsors LD&D (in a joint venture with IGEQ), Black Salmon and Bridge Investment Group to recapitalize Wynwood Haus, a newly built 224-unit multifamily community in Miami’s Wynwood neighborhood
- $73.27 million construction loan for Fortune International Group and Blue Road to complete Nexo Residences, a short-term rental condominium tower in North Miami Beach
- $107.2 million debt package for Robbins Property Associates to refinance three vintage multifamily properties in Central Florida
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$75 million acquisition loan for Atlas Real Estate Partners to acquire a 384-unit apartment community in Orlando
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 today that it secured financing on behalf of Category Five Real Estate (CFRE), led by brothers Mike and Leon Peisach, to acquire the Sunrise Portfolio: four vintage multifamily communities totaling 185 units located in Sunrise, Florida.
Managing Director Brad Williamson, along with Senior Managing Director Mitch Sinberg, Managing Director Matt Robbins and Vice President Kyle Ryan of Berkadia Miami, arranged a $21 million loan for CFRE’s $32.28 million acquisition.
Santander’s Peter Triano provided a five-year, fixed-rate loan with two years interest-only and a 30-year amortization. The deal closed on July 28.
“The Sunrise Portfolio provided CFRE an excellent opportunity to expand its holdings of South Florida apartments located in great communities or close to major transit hubs,” said Williamson. “Our team identified a lender who could execute quickly and provide affordable capital to fund this acquisition.”
“Sunrise is undergoing a remarkable transformation,” said Leon Peisach, co-founder of CFRE. “The area has long been undervalued, but with its central location and the wave of new developments, we believe Sunrise is poised to outperform the broader market in the coming years.”
CFRE, a South Florida-based private equity real estate firm focused on workforce housing, has assets in the area that have achieved strong rent growth despite market softening.
“Rental demand in Sunrise is robust and growing. We are looking to invest more in this area, we believe strongly in this submarket,” Leon Peisach added.
The firm plans to enhance the newly acquired properties by adding modern amenities, improving both interiors and exteriors, and creating community-focused upgrades.
“Our goal is not just to improve the asset, but to invest in the long-term vitality of the broader Sunrise community,” said Mike Peisach, co-founder of CFRE. “We believe in responsible investments and thoughtful renovations can elevate the area for residents and stakeholders alike.”
Built between 1969 and 1973, the four properties in the portfolio are located less than a mile from each other in Sunrise, and are all one- or two-story garden-style concrete-block assets.
The properties in the portfolio are:
- Sunrise Gardens – 2117, 2113, 2108 NW 64th Avenue, Sunrise, FL 33313
- La Haina – 7041 Sunset Strip, Sunrise, FL 33313
- Lake Success – 6354, 6270 & 2551 NW 26th Street, Sunrise, FL 33313
- Riverview – 2650 NW 64th Avenue, Sunrise, FL 3313
Located at the intersection of I-75 and I-595, Sunrise offers exceptional access to corporate employers throughout South Florida, and is just minutes from the popular Sawgrass Mills Mall, and the Amerant Bank Arena, home to the NHL Stanley Cup-winning Florida Panthers.
