Tampa, Fla. (January 5, 2020) – Berkadia announces it has arranged a loan for the acquisition of Bainbridge Ybor City, a 240-unit luxury apartment community in the Ybor City National Landmark Historic District of Tampa, Fla.  Senior Managing Director Mitch Sinberg and Associate Director Matthew Robbins of Berkadia’s South Florida mortgage banking team secured a $41.37 million loan on behalf the sponsor, GMF Capital.

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

Jared Frydman, Managing Director of Acquisitions with GMF Capital, noted, “This property fits well with our long-term objective of building a portfolio comprising high-quality assets in growth markets with attractive economic and demographic fundamentals. Our team was equally impressed with the quality of Berkadia’s overall execution of this assignment, and we have a great deal of confidence in this team’s ability to help us achieve our long-term business goals.”

Developed in 2017 by Bainbridge Companies, the property is located at 1512 East 12th Avenue in Ybor City, the only neighborhood on Florida’s west coast to be designated a National Historic Landmark District. The property features studio, one- and two-bedroom floor plans with designer touches including hardwood-style flooring; chef-inspired kitchens with large center islands, stainless steel appliances and quartz countertops; in-suite washer & dryer; patio or balcony; oversized walk-in closets; and built-in storage.

Community amenities include a South Beach-style pool and sundeck, 24-hour fitness center, yoga studio and personal training room, clubroom with arcade and catering kitchen, elevator access and secure parking garage, and opulent greenways. 

Located within a few steps of the many eclectic bars, restaurants, coffee shops and entertainment venues located along 7^th Avenue, the property offers residents a highly walkable, dynamic live-work-play environment, with immediate access to I-4 just 10 minutes from downtown Tampa.

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OKLAHOMA CITY (March 3, 2020) – Berkadia announces it has arranged a $33.78 million loan for the acquisition of Sycamore Farms Apartments, a 398-unit apartment community located in Oklahoma City, Oklahoma.

Senior Managing Director Mitch Sinberg, Associate Director Matthew Robbins and Senior Analyst Abigail Beauchamp of Berkadia’s Boca Raton office arranged the financing on behalf of the sponsor, a partnership between GMF Capital and Vesta Capital, a privately held real estate investment firm focused on the acquisition and management of multifamily properties in Oklahoma and Arkansas. 

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

“With limited new supply, rents in the Oklahoma City area have risen about 3.8 percent year over year – above the national average of 3 percent – which has made this metro area an attractive place for multifamily investors,” said Sinberg.

Built in 1998 and located at 14900 North Pennsylvania Avenue, Sycamore Farms Apartments offers one-, two- and three-bedroom apartments ranging from 692 square feet to over 1,300 square feet. Units feature modern finishes, expansive windows, gourmet kitchens with high-end appliances, and private patios or balconies. Some homes also include a fireplace. Amenities at the gated community include two resort-style pools, a 24-hour fitness center, a resident business center, dog park, and picnic and barbecue grill areas. Detached and attached garages are also available along with covered parking.

Sycamore Farms is located less than 20 miles north of downtown Oklahoma City, with convenient access to the John Kilpatrick Turnpike and a number of dining, shopping and entertainment destinations.

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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.

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