Citrus Heights, Calif. (April 3, 2020) – Berkadia announces it has arranged $14.6 million in refinancing for Sierra Ridge Apartments, a 148-unit multifamily community in Citrus Heights, California, northeast of the state capital Sacramento. Senior Managing Director Mitch Sinberg and Associate Director Matt Robbins of Berkadia’s Boca Raton office secured the refinancing on behalf of Bollibokka Land Company, a family office based in Mill Valley, California.

Berkadia originated and Freddie Mac purchased the 12-year, fixed-rate loan with full- term interest only.

“The sponsor’s existing presence in and knowledge of the area coupled with a strong track record as a legacy firm provided a solid foundation for them to secure this refinancing,” said Sinberg. “With low interest rates, holding onto a value-add asset like Sierra Ridge in a secondary market may result in a compelling investment period.”

Built in 1985, Sierra Ridge is located at 7434 Auburn Oaks Court. One- and two- bedroom units include granite countertops, stainless steel appliances, walk-in closets, range, washer/dryer, dishwasher and disposal. Community amenities feature a picnic area, grill, swimming pool and spa.

Located northeast of Sacramento, the community is found near important transit routes and employers. Interstate 80 is less than five minutes away, offering direct access into Downtown Sacramento and the San Francisco metropolitan area. The 30,000-student American River College is 10 minutes away, and Sacramento McClellan is only a 15- minute drive from the property.

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About Berkadia®:

© 2020 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

Altamonte Springs, Fla. (April 3, 2020) – Berkadia announces it has secured $21.864 million in refinancing for The Edge at Lake Lotus, a 168-unit community in Altamonte Springs, Florida. Senior Managing Director Mitch Sinberg and Associate Director Matt Robbins of Berkadia’s Boca Raton office secured the refinancing on behalf of Insula Companies, a real estate and management firm based in Sarasota, Florida.

Berkadia originated and Freddie Mac purchased the 10-year, floating-rate loan with five years interest only.

“With the greater Orlando market experiencing consistent population growth, nearby communities like Altamonte Springs will benefit from the continued demand for housing throughout the MSA,” said Sinberg. “Value-add properties like The Edge at Lake Lotus will create renting opportunities for workforce families established in or settling into the area, giving the sponsor an opportunity to further enjoy the area’s strong fundamentals.”

Built in 1987, The Edge at Lake Lotus is located at 569 Little River Loop. One-, two- and three-bedroom units include hardwood floors, vaulted ceilings, stainless steel appliances, dishwasher, washer/dryer and range. Community amenities include a clubhouse, swimming pool and Wi-Fi throughout the property’s common areas.

Situated about 15 minutes away from Downtown Orlando, the community is located near important transit routes, employers and retail options. Interstate 4 is under 10 minutes away, offering access to the greater Orlando area and central Florida. Seminole State College of Florida – Altamonte Springs is less than five minutes away, employing approximately 1,500 employees and serving about 30,000 students throughout the system. Altamonte Mall is about 10 minutes away.

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© 2020 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

Port St. Lucie, Fla. (April 3, 2020) – Berkadia announces it has secured the $24.536 million refinancing of a construction take-out loan for Torino Lakes Townhomes, a Class A multifamily community in Port St. Lucie, Florida. Senior Managing Director Mitch Sinberg and Associate Director Matt Robbins arranged the refinancing on behalf of Rich Properties, a real estate investment, management and development firm based in Port St. Lucie.

Berkadia originated and Fannie Mae purchased the 10-year, fixed rate loan with interest only for part of the term.

“Port St. Lucie’s escalating population growth will require additional housing infrastructure which is satisfied by products like Torino Lakes,” said Sinberg. “Having successfully completed another asset in this burgeoning community, the sponsor’s ability to secure refinancing is a testament to their track record of developmentthroughout Florida.”

Built in 2019, Torino Lakes Townhomes is located at 5511 NW Sandhill Trail. Two- and three-bedroom units include hardwood floors, walk-in closets, granite countertops, stainless steel appliances, island kitchen, dishwasher, disposal and range. Community amenities feature a fitness center, swimming pool, spa, playground, clubhouse, walking/biking trails and media center with movie theater.

Growing about 3 percent each year since 2015, Port St. Lucie continues its positive trajectory due to rising costs attributed in neighboring Palm Beach County, with the increase of younger families and baby boomers supporting its population growth. With the city’s cost of living below the national average, Port St. Lucie has also been rated as one of the safest in the U.S. and one of the best places to retire

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.

© 2020 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