Campo Felice, a 24-story luxury multifamily apartment tower, was purchased for $55 million in an off market special situation sale

Berkadia announces it has arranged financing for the acquisition of a 24-story residential tower with 323 apartment units located in the historic downtown of Fort Myers, Fla.  Campo Felice was acquired for $55 million by Westside Capital Group, a real estate investment holding firm based in Miami. The acquisition comes just two weeks after Westside made its debut in the Fort Myers market with the acquisition of another waterfront high-rise apartment property, the 265-unit Oasis Grand II, for $71 million, with the help of a $58.68 million loan also procured by Berkadia. The two properties are located less than two miles apart along the Caloosahatchee River. 

Senior Managing Director Charles Foschini and Managing Director Christopher Apone of Berkadia Miami secured a $47.07 million loan on behalf of Westside, representing a 78 percent loan to value. Ladder Capital Finance, LLC provided the four-year, floating-rate loan, with full-term interest only.

“The exceptional location of Campo is undeniable, and it didn’t take long to find a lender who agreed with the Westside’s future vision for the property,” said Foschini. “With a strong, capable operator and the backing of a well-crafted loan, this property will increase in value through an expertly executed transformation, benefiting both residents and investors alike.”

Campo Felice is a landmark property with spectacular amenities in the beating heart of downtown Fort Myers, which unfortunately never achieved its full potential,” said Jakub Hejl, founder and president of Westside. “Under Westside’s ownership, however, the property will immediately benefit from much-needed capital investment, operational expertise and professional management. Our first objective is to work closely with current residents to ensure that their needs are met. We are focused on making sure the transition of ownership yields only positive experiences for the senior residents currently occupying the building. At the same time, we’re also looking forward to working with our neighbors, nearby businesses and local officials as well to ensure this property becomes a true asset to the broader Fort Myers community now and well into the future.”

Located at 2500 Edwards Drive, Campo Felice was originally built as a Sheraton hotel in 1986. It sits on a 3.24-acre site on the south bank of the Caloosahatchee River, directly behind the Fort Myers Yacht Basin, a WPA (1939) marina project that has 241 boat slips. In 2015, The MacFarlane Group acquired and redeveloped the property into a luxury 55+ community. The property features one- and two-bedroom apartments with floor to ceiling windows, and an array of amenities including four dining venues, a resort-style pool with jet spa, a 2,200-square-foot fitness center, a 49-seat movie theater, salon, dog park, ballroom and 521 parking spaces. It sits in the heart of the Historic River District, within walking distance to many restaurants and shops, and easily accessible to destinations like the Florida Repertory Theatre, Fort Myers Library, JetBlue Park, FGCU, and Lee Memorial Hospital. It is also convenient to US-41, I-75, MLK Jr Blvd, as well as public bus transportation. 

The 352-unit San Mateo Crossing was built in 2019

Berkadia Institutional Solutions, powered by Moran, announces it has arranged the sale of San Mateo Crossing, a 352-unit, Class AA luxury, garden-style apartment community located in Kissimmee (Orlando MSA), Florida. Managing Directors Brett Moss and Matt Wilcox, and Associate Director Tyler Swidler of Berkadia Orlando represented the sellers: Eastwind Development, a multifamily developer based in Palm Beach Gardens, Florida and Aztec Group, a leading commercial real estate firm, based in Miami, Florida.

Senior Managing Director Aaron Cardwell of Berkadia Phoenix arranged acquisition financing on behalf of the buyer, a joint venture between Apex One Investment Partners, a Houston-based investment manager, and Balfour Beatty Communities, an owner/operator of multifamily properties headquartered in Philadelphia, Pennsylvania.

Walton Street Capital provided a three-year, interest-only bridge loan.  

“The sale of San Mateo Crossing represented a tremendous opportunity to acquire a newly constructed, stabilized garden apartment asset, located within one of the nation’s fastest growing counties,” noted Moss. “Investors have taken note of Orlando’s strong resurgence in recent months, and apartment fundamentals across Central Florida continue to impress.”

Built in 2019, San Mateo Crossing is located at 1115 Pacifica Drive, and enjoys an advantageous location, nestled between two of Orlando’s prominent employers: Orlando Health and the campus of Tupperware Brands corporate headquarters. The property offers one-, two-, and three-bedroom apartments ranging from 664 square feet up to 1,272 square feet. Individual units feature nine-foot ceilings, stainless-steel appliances and granite countertops, walk-in closets with built-in shelving, washer and dryer, wood plank style flooring in main living areas and spacious balconies and patios. Community amenities include a resort-style pool, fitness center, theater room, outdoor kitchen, media and game room, a business center and gated bark-park.

Aptly named, San Mateo Crossing is located directly across Orange Avenue from the Tupperware SunRail Station, enabling an auto-less commute to countless Orlando employment and lifestyle opportunities, as well as future planned connections to the Orlando International Airport and Brightline rail expansion in coming years.


Oasis Grand II was acquired in an off-market transaction for $71 million

Berkadia announces it has arranged financing for the acquisition of a landmark, 32-story residential tower in downtown Fort Myers, Fla.  Westside Capital Group, a real estate investment holding firm based in Miami, acquired the Oasis Grand II for $71 million in an off-market transaction. Located on the Caloosahatchee River, a few blocks from the heart of downtown Fort Myers, the 265-unit property was originally developed by Related Group and was recently transitioned from a condominium to a fee simple ownership. The acquisition price translates to $268,000 per unit.

Senior Managing Director Charles Foschini and Managing Director Christopher Apone of Berkadia Miami secured a $58.68 million loan on behalf of Westside, representing an 80 percent loan to cost. Bridge Investment Group provided the five-year, floating-rate loan, with full-term interest only.

“Oasis Grand represented a unique opportunity to finance a waterfront residential tower at a significantly discounted basis relative to replacement cost and 
other recent high-rise multifamily trades in Florida, and therefore offers tremendous management and operational upside,” said Foschini.


“We believe in the Naples-Fort Myers corridor because of its waterfront location, great roadway network including direct interstate access, its walkable urban center and international airport, and very promising economic and demographic trends,” said Jakub Hejl, founder and president of Westside. “With its prime waterfront location and superior condominium-quality features, Oasis Grand is a thoroughly unique multifamily asset and we therefore seized on the opportunity to acquire the property at well below replacement cost. Given the quality of the property and high barriers to entry in this market, Oasis Grand offers a variety of value enhancement opportunities, along with the potential for future development and land additions, all of which will be carefully evaluating.”


This is Westside’s first investment in the Fort Myers market. It also owns real estate assets throughout the state of Florida, in the Tampa, Orlando, Jacksonville and South Florida metro areas. In addition, Westside owns an approximately 1,100-unit apartment complex on over 100 acres in Birmingham, Alabama. Westside’s development pipeline includes thousands of new planned or approved units on land it owns in Florida and Alabama, and the company is actively pursuing deals throughout the Southeastern U.S.


Westside will invest in improvements to the property aimed at ensuring that Oasis Grand sets a new standard for upscale, experiential living in Fort Myers.

Located on a 1.3-acre site at 3040 Oasis Grand Boulevard, Oasis Grand sits on the Caloosahatchee River, a few blocks from the heart of downtown Fort Myers. Originally built in 2008 by Related Group, it was transitioned from a condominium to fee simple ownership in December 2020. The property features studio, one-, and two-bedroom units ranging from 629 square feet to 1,700 square feet, as well as several two-story, three-bedroom waterfront townhomes with up to 1,800 square feet of space. Amenities include gated-entry; a two-story marble and glass lobby; high-speed elevators; a state-of-the-art fitness center; a clubhouse/social lounge with wet bar, TV and WiFi; a private boat launch ramp; gated pet run; library; a resort-style pool deck with poolside cabanas and lounges; private barbecue and picnic areas; and luxuriously appointed men’s and women’s spa facilities with saunas and showers.

Berkadia announces it has arranged $10.7 million in financing for the acquisition of Lago Mar, a 112-unit multifamily community in Hialeah, Florida. Senior Managing Director Mitch Sinberg and Associate Director Matthew Robbins of Berkadia Boca Raton secured the financing on behalf of Rental Asset Management (RAM), a real estate investment firm based in Fort Lauderdale, Florida.

Freddie Mac originated the 10-year, fixed rate loan through its Green Advantage® program.  

“The Miami metro area has enjoyed strong rent growth and occupancy in 2021 as more people move into the region from other locations, and renters compete for well-located, attainably priced apartments close to public transit, employment centers and amenities,” said Sinberg. “Urban neighborhoods in particular have enjoyed some of the strongest demand this past year – a reversal of last year’s trend toward suburban markets.”

According to Berkadia’s South Florida Institutional Mutlifamily Report, occupancy in the Hialeah/Miami Lakes submarket stood at 98.1 percent in Q2 2021, and effective rent rose 4.6 percent year over year to $1,598.

Built in 1968, Lago Mar Apartments is located at 1035-1055 West 71st  Street. One- and two-bedroom apartments feature high-speed internet, on-site parking, air conditioning, a refrigerator, range and oven. Community amenities include laundry facilities.

The property is situated in the sixth largest city in Florida, in close proximity to the Miami Spring’s Golf & Country Club, Westland Mall, Hialeah Park Racetrack, The Hard Rock Stadium and Amelia Earhart Park. It is 2.5 miles away from Miami Dade College, 20 minutes away from the Miami International Airport and there are two transit stops within 6.3 miles including Opa-Locka and Tri-Rail.

Raleigh, N.C. (August 9, 2021) – Berkadia announces it has arranged $42 million in refinancing for Meridian at Harrison Pointe, a 248-unit multifamily community in Cary, North Carolina. Senior Directors Justin Ownby, Henry Tanner, and James (Jimbo) Tanner of Berkadia secured the financing on behalf of NorthView Partners, LLC.

Berkadia originated and Freddie Mac purchased the loan. 

“Markets like the research triangle of Raleigh have seen incredible interest as renters move into areas nationwide with lower living expenditures and high quality of life,” said Ownby. “Noticing this trend, the sponsor identified a long-term vision for the property in a market with key industries including cleantech, advanced manufacturing, IT and life sciences.”

Built in 2015, Meridian at Harrison Pointe is located at 2000 Banyon Grove Loop. One-, two- and three-bedroom units include an island kitchen, walk-in closets, hardwood floors, storage units, security system and washer/dryer. Community amenities feature a fitness center, volleyball court, swimming pool, spa, courtyard, sundeck and game room.



Situated near central Cary, the property is found near a variety of transit routes, parks and retail centers. The property is located on Harrison Avenue, providing direct access to Interstates 40 and 440 and the greater Research Triangle. North Carolina State University is 15 minutes away, with a number of shopping centers and recreational options including Harrison Pointe Shopping Center, J.C. Raulston Arboretum and Lake Johnson Nature Park all less than 10 minutes away from the community.

Boca Raton, Fla. (July 28, 2021) – Berkadia announces it has arranged $12 million in financing for the acquisition of The Village at Boca East, an 84-unit multifamily community in Boca Raton. Senior Managing Director Mitch Sinberg and Associate Director Matthew Robbins of Berkadia Boca Raton secured the financing on behalf of Rental Asset Management (RAM), a real estate investment firm based in Fort Lauderdale, Florida.


Berkadia originated and Freddie Mac purchased the 10-year, Green Up® loan with a fixed rate.


“The property’s competitive location near Florida Atlantic University and Palm Beach County’s rising employment rates provided two important demand drivers in a market that’s seen rising corporate relocations benefitting new and current residents,” said Sinberg. “Taking advantage of Freddie Mac’s Green Up® financing, the sponsor will be able to carry out an extensive value-add program that also brings necessary eco-friendly upgrades throughout the asset.”


Built in 1975, The Village at Boca East is located at 1601 NW 13th Street. One-, two- and three-bedroom units include walk-in closets, dishwasher and range. Community amenities feature swimming pools, a courtyard with garden and on-site laundry facilities.



Situated near central Boca Raton, the community is found near multiple employers including Florida Atlantic University, Boca Raton Airport and Lynn University, which are each just 5 minutes away from the property. Transit corridors like Interstate 95, North Federal Highway and N Military Trail are also 5 minutes away, providing direct access throughout South Florida and the rest of the Atlantic Coast.

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