Berkadia has arranged the sale and financing of Abbington Crossing, a 468-unit apartment community located in Charlottesville, Virginia. Senior Managing Director Drew White, Senior Director Carter Wood and Director Cole Carns of Berkadia DC Metro, Norfolk, and Richmond, respectively, represented the seller, Weinstein Properties.

Senior Managing Director Mitch Sinberg, Managing Directors Brad Williamson, Scott Wadler and Mathew Robbins, and Vice President of Originations Hugo Hernandez of Berkadia South Florida secured acquisition financing on behalf of the buyers, a joint venture between an undisclosed buyer and Charger Ventures, a multifamily investment management company based in Bethesda, Maryland.

“Abbington Crossing's prime location and array of desirable amenities make it a standout community. We are confident that this acquisition will prove to be a lucrative investment,” said Robbins. “We are thrilled to have facilitated the financing of Abbington Crossing.”

“We are delighted to have represented Weinstein Properties in the largest conventional apartment sale in Charlottesville’s history. The market is performing really well and the amount of equity pursuing as an acquisition target is impressive,” added White.

Located at 1000 Old Brook Road, Abbington Crossing offers one, two, and three-bedroom garden-style apartments and townhomes ranging from 748 square feet to 1,155 square feet. Individual units feature black or stainless-steel appliances, wood floors or carpet, large closets, central air conditioning, and private patio or balconies. Community amenities feature a cardio and strength training center, a business center with computers, a 24-hour clubhouse with coffee and Wi-Fi, a resort-style pool with a sundeck, a playground, dog park, and on-site maintenance and management.

Abbington Crossing is located in Charlottesville, close to the University of Virginia and the Charlottesville-Albemarle airport, The Jefferson Theater, the Paramount Theater, Shenandoah National Park, Rivanna River, and historic Charlottesville downtown mall.

BOYNTON BEACH, Fla. (November XX, 2022) – Berkadia announces it has secured a $93.6 million loan to refinance two multifamily communities located in Palm Beach County: Advenir at Banyan Lake and Advenir at La Costa, both vintage garden-style multifamily assets located in Boynton Beach, Fla. Senior Managing Director Charles Foschini and Managing Director Chris Apone of Berkadia Miami secured the financing on behalf of Advenir, a multifamily and single-family rental community developer and operator based in Aventura, Fla.

Freddie Mac provided the $93.6 million, fixed-rate, seven-year loan with full-term interest only.

Advenir acquired both properties in 2015 and conducted a value-add renovation program.

“In times like these, relationships matter,” said Foschini. “When our client called us about a refinance, we encouraged them to utilize Freddie Mac’s unique index lock feature for repeat borrowers and take rate risk off the table. Give the unprecedented volatility and over all climb in the treasury during the last several months, we were able to accomplish the borrower’s goals related to both terms, and returning substantial cash to the partners in both transactions.”

Located at 1561 Stonehaven Drive, Advenir at Banyan Lake is a 268-unit multifamily property built in 1986. It offers one-, two- and three-bedroom apartment units that range from 900 square feet to 1,290 square feet. Individual units feature oversized floor plans, walk-in closets, ceiling fans, washers and dryers, and private patios and balconies. Community amenities include a swimming pool, fitness center, BBQ grills, a playground, racquetball courts, two tennis courts and three lakes with a fountain.

Located at 4101 Mahogany Drive, Advenir at La Costa is a 328-unit multifamily property built in 1986. It offers one- and two-bedroom apartment units that range from 784 square feet to 1,116 square feet. Individual amenities feature stainless steel double

bowl sinks with disposal, breakfast bar, Formica countertops, walk-in closets, vaulted ceilings, ceiling fans, full-size washer and dryer, private balconies, and patios. Community amenities include two resort-style pools, a 24-hour fitness center, a tennis court, an outdoor lounge area with Wi-Fi, a lakeside jogging trail with exercise stations, a car care center, a cybercafé and coffee bar, and a fishing dock.

Both properties are located in the heart of Boynton Beach with easy access to Florida’s Turnpike and Interstate 95, less than one mile from Quantum Corporate Park, Boynton Beach Mall, the JFK Medical Center, the Palm Beach International Airport and the Port of Palm Beach.

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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.

© 2022 Berkadia Proprietary Holding LLC. Berkadia® is a registered trademark of Berkadia Proprietary Holding LLC.

Commercial mortgage loan banking and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc.

Investment sales / real estate brokerage business is conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc.

This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.

In California,

Berkadia Commercial Mortgage LLC conducts business under CA Finance Lender & Broker Lic. #988-0701, Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116, and Berkadia Real Estate Advisors Inc. under CA Real Estate Broker Lic. # 01931050.

Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions.

For state licensing details for the above entities, visit: http://www.berkadia.com/legal/licensing.aspx

Berkadia announces it has arranged the sale and financing of Castle Hotel, Autograph Collection by Marriott, a 213-key boutique hotel located in Orlando, Fla. Managing Directors Michael Weinberg and Preston Reid and Senior Director Wyatt Krapf of Berkadia Hotels & Hospitality represented the seller, Waramaug Hospitality, a private investment firm that specializes in hotels nationwide based in Dallas, TX., and Contrarian Capital Management, an opportunistic credit investing company based in Greenwich, Conn.

Managing Director Michael Weinberg secured acquisition financing on behalf of the buyer, Banyan Investment Group, a hotel investment company based in Atlanta, Ga. MetLife originated the three-year loan with two one-year extension options.

“We are pleased to close on this acquisition through our Banyan Lodging Enhanced Value Fund and appreciate the flawless execution by the Berkadia team in sourcing and arranging the debt financing. Our ability to provide certainty of execution combined with our nimbleness to navigate through a challenging capital markets environment proved to be advantageous. We are continuing to pursue both branded and independent hotels primarily in primary and secondary markets with multiple business and leisure demand generators,” commented Samir Yajnik, Principal and EVP of Investments at Banyan Investment Group.

“Orlando is seeing tremendous performance growth and this asset is directly adjacent to the new multi-billion theme park Universal is building which should really help the success of this investment,” said Weinberg. “It’s definitely a tough transaction market but we were thrilled to be able to advise both the seller on the disposition and the buyer with their acquisition financing.”

Built in 1995 and renovated in 2022, the Castle Hotel, Autograph Collection by Marriott hotel is located at 8602 Universal Boulevard and spans 3.4 acres. It consists of one nine-story building and two detached single-story buildings. Hotel amenities include a 24-hour fitness center, a heated pool and hot tub with a poolside bar, a full-service restaurant, complimentary shuttle, a 9,577-square-foot flexible meeting space that includes a 2,206-square-foot ballroom and self-park or valet. The hotel is in the heart of Orlando, close to International Drive on Universal Boulevard, The Orange County Convention Center, Universal Orlando Resort, SeaWorld Orlando and the Orlando International Premium Outlets.

Berkadia’s Hotels & Hospitality platform combines best-in-industry innovation, knowledge and experience with the most comprehensive suite of products and services, backed by relentless customer service and support to empower clients to capitalize on the right opportunities at the greatest value. The group serves clients across the country, offering a full set of advisory, investment sales, underwriting and loan origination services and products including Life Company, Proprietary Bridge Lending and Capital Markets Advisory Services.

In August, SB Real Estate Partners acquired a 232-unit apartment property in Phoenix with its programmatic joint venture partner

PHOENIX (September 7, 2022) – Over the past 12 months, a programmatic partnership arranged by Berkadia has now delivered more than $100 million in equity towards SB Real Estate Partners’ (“SBREP”) multifamily expansion throughout the Southwest. On August 25, SB Real Estate closed on the $56.4 million acquisition of Obsidian on Ocotillo (renamed “Portola Glendale”), a 232-unit multifamily property in the Glendale suburb of Phoenix, Arizona, with a $23 million investment from the equity partner.

Chinmay Bhatt, Noam Franklin and Cody Kirkpatrick of Berkadia JV Equity & Structured Capital sourced the equity provider, a Texas-based family office, as part of a broader programmatic relationship that launched in September 2021. With the closing of Portola Glendale, the partnership has acquired seven multifamily assets with a total transaction volume at more than $350 million including 620 units in Phoenix, 497 units in Las Vegas and 124 units in Redlands, California.

“Our team prides itself on putting together long-term partnerships between sponsors and capital and we knew that with SB Real Estate’s deep knowledge of Las Vegas, Phoenix and the Inland Empire that the family office would be keen to set up a programmatic relationship with a group of this quality,” said Kirkpatrick.

“Chinmay, Noam and Cody’s capital relationships have been transformative for the SBREP platform. Inclusive of the programmatic family office partnership, their involvement has been the rocket fuel to help turbocharge SBREP’s portfolio expansion across the Southwest since 2021. These guys are invaluable with respect to finding solutions across the entire capital stack,” said Srijin Bandyopadhyay, Founder and Managing Principal of SBREP.

Built in 1986 and located at 6801 W Ocotillo Road, Portola Glendale is a two-story garden-style apartment community offering one- and two-bedroom apartments ranging from 659 to 905 square feet. The gated community amenities include a pool, playground, business center, fitness center and racquetball court. The property is just 10 minutes from Glendale Community College, and less than 15 minutes from Grand Canyon University and Arizona State University, West.

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.

© 2022 Berkadia Proprietary Holding LLC. Berkadia® is a registered trademark of Berkadia Proprietary Holding LLC.

Commercial mortgage loan banking and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc.

Investment sales / real estate brokerage business is conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc.

This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.

In California, Berkadia Commercial Mortgage LLC conducts business under CA Finance Lender & Broker Lic. #988-0701, Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116, and Berkadia Real Estate Advisors Inc. under CA Real Estate Broker Lic. # 01931050. 

Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions.

For state licensing details for the above entities, visit: http://www.berkadia.com/legal/licensing.aspx

 MIAMI (August 29, 2022) – Berkadia announces it has arranged $57.5 million in construction financing for Fourteen Residences Allapattah, a two tower, 237-unit apartment community located in Miami, Florida. Senior Managing Director Charles Foschini, Managing Director Chris Apone and Senior Analyst Shannon Wilson of Berkadia Miami secured the financing on behalf of Neology Life Development Group, a lifestyle-driven residential and commercial real estate firm led by Lissette Calderon. The property is located in a Qualified Opportunity Zone in the historic Allapattah section of downtown Miami.

Churchill Real Estate’s direct originations platform, led by Jeff Rosenfeld and Sean Robertson, originated the 24-month loan with two extension options. 

“Our client Neology continues to dominate the Allapattah skyline with an innovative team and projects whose ‘attainable luxury’ concept serves the needs of the community and integrates nicely within it,” said Foschini. “While the market continues to be extremely volatile, the lender recognized the strength of the sponsor, Neology’s track record in Allapattah, where this is its third project, and Lissette Calderon’s personal vision for the evolution of the Allapattah community.”

“This deal further solidifies Churchill’s commitment to support the development of workforce housing in Miami,” added Robertson, Churchill’s Director and Co-Head of Originations. “We are thrilled to execute this deal with Neology amid unstable market conditions.”

“Churchill continues to build on, and augment, its presence in the greater South Florida market,” added Rosenfeld, also Director and Co-Head of Originations at Churchill. “Despite macro headwinds, South Florida continues to benefit from favorable factors that give us the confidence to double down in this market.” 

Located at 1470 NW 36th Street, Fourteen Allapattah Residences will consist of a 14-story building with 180 apartment units connected via a pool deck to a five-story building with 57 apartments including ground floor walk ups. It will offer studio, one- and two-bedroom units ranging 450 to 900 square feet. Apartments will feature European-inspired cabinetry, quartz countertops, energy efficient kitchen appliances, in-unit washer and dryer, energy efficient AC and heating systems, and smart home technology adaptors. Lifestyle amenities will include curated original artwork, a multipurpose lobby, media lounges and living rooms, a rooftop pool and clubhouse, poolside cabanas, coworking spaces, conference rooms, outdoor movie screen, an indoor and outdoor fitness and wellness center, with a yoga and cardio studio, dog park with dog wash area, bike storage, virtual concierge and smart package lockers, and a parking garage with electric car charging stations as well as a ride share lobby.

The property, which will open in early 2024, enjoys a highly visible location on NW 36th Street just 5 minutes west of Wynwood and 10 minutes east of the Miami International Airport, close to the health district, which is the country’s largest concentration of medical and research facilities after Houston. It is just a short walk from the Allapattah Miami Metrorail Station, the Rubell Museum, and SuperBlue.

Neology’s portfolio now consists of more than 1,500 apartment units completed or under construction in Miami’s urban core, including The Julia, an upscale apartment community that will open in 2023, and Neology’s flagship Allapattah project, No. 17 Residences Allapattah, which opened in 2021 and leased up in record time.

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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. 

© 2022 Berkadia Proprietary Holding LLC. Berkadia® is a registered trademark of Berkadia Proprietary Holding LLC. 

Commercial mortgage loan banking and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. 

Investment sales / real estate brokerage business is conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. 

This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada. 

In California,

Berkadia Commercial Mortgage LLC conducts business under CA Finance Lender & Broker Lic. #988-0701, Berkadia Commercial Mortgage Inc.  under CA Real Estate Broker Lic. #01874116, and Berkadia Real Estate Advisors Inc. under CA Real Estate Broker Lic. # 01931050.   

Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. 

For state licensing details for the above entities, visit: http://www.berkadia.com/legal/licensing.aspx 

Moderne Apartments, along with joint venture partner BCDC, will develop The Governor, with 176 units, and Moderne Arrowhead, with 182 units

PHOENIX  (August 31, 2022) – Berkadia announces it has sourced both a joint venture partner and a preferred equity provider for developer Moderne to build two new multifamily communities in Phoenix totaling 358 units: The Governor and Moderne Arrowhead.

Cody Kirkpatrick, Noam Franklin, and Chinmay Bhatt of Berkadia JV Equity & Structured Capital secured the joint venture equity partner, BCDC as well as the preferred equity provider, a Texas-based investment manager, who together contributed a total of $55.5 million to the two projects. Construction commenced on The Governor August 1, 2022 and is scheduled to commence on Moderne Arrowhead September 19, 2022.

Moderne is a Phoenix-based, fully integrated real estate alternative investment manager focused on community-centric apartment and townhome development. Collectively, the Moderne team has delivered more than 35,000 units since 1990.

BCDC is a fully integrated real estate organization providing development and capital solutions primarily through partnerships. Based in Atlanta, it offers a wide variety of real estate services, from development and construction to equity and credit enhancements, to brokerage and property management.

Continued coastal migration, robust employment growth, relative affordability, and good quality of life have strengthened the Phoenix multifamily sector in the past year, according to Berkadia Research. In 2021, Maricopa County was the fastest-growing county in the United States, and a record high 15,000 units were absorbed in 2021.

“Our team had the privilege to work with the experienced team at Moderne and we knew that BCDC would be excited to form a programmatic partnership with such local experts,” said Kirkpatrick. “The capital stack on both deals were with some of the top providers of capital in the ground up multifamily space and we are excited to see the finished product in 2024,” added Franklin.

Located at 1717 E. McDowell Road, The Governor is a five-story, mid-rise apartment community with a total of 176 studio, one- and two-bedroom apartments averaging 739 square feet. The personal residence of Arizona’s first governor, W.P. Hunt, once stood on the project site, situated in the resurging Miracle Mile neighborhood. The preferred equity provider contributed $18.93 million in equity behind a $40.6 million senior loan by Pacific Western Bank. Completion is slated for June 2024.

Moderne Arrowhead is located at 15431 North 67th Avenue in Glendale, and is a three-story, garden-style apartment community with 182 units and surface parking. The property will offer studios, one- and two-bedrooms, and one-bedroom, one-bath carriage house units. The preferred equity provider contributed $18.10 million behind a $38.3 million loan from Pacific Western Bank. It is slated for completion in April 2024.

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.

© 2022 Berkadia Proprietary Holding LLC. Berkadia® is a registered trademark of Berkadia Proprietary Holding LLC.

Commercial mortgage loan banking and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc.

Investment sales / real estate brokerage business is conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc.

This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.

In California, Berkadia Commercial Mortgage LLC conducts business under CA Finance Lender & Broker Lic. #988-0701, Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116, and Berkadia Real Estate Advisors Inc. under CA Real Estate Broker Lic. # 01931050. 

Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions.

For state licensing details for the above entities, visit: http://www.berkadia.com/legal/licensing.aspx