ATLANTA, GA – March 2, 2022 – Berkadia announced today the bridge financing for the acquisition of Oglethorpe Place, a 144-unit, affordable multifamily property in Atlanta, Georgia. Located in the Historic West End community and adjacent to the West End MARTA Station, the property will continue to provide both affordable and market rate housing for the community. Managing Directors Jeff Lawrence and Matthew Baptiste of Berkadia Affordable secured the financing on behalf of the purchaser, Infinity RE Impact II, LLC, a social impact fund that owns 19 affordable communities nationwide. The deal closed on January 13.
The $20 million loan through Berkadia’s proprietary lending platform will provide financing for the acquisition and capital improvements.
“Berkadia is thrilled to once again partner with the innovative team at Infinity to deliver this landmark deal in Atlanta,” said Lawrence.
“Oglethorpe Place exemplifies Infinity’s creative and thoughtful approach to Affordable Housing and demonstrates how Berkadia’s diverse product suite allows our partners to fulfill their investment objectives,” added Baptiste
“Oglethorpe Place represents an opportunity for Infinity to make a genuine impact on the historical West End neighborhood which is on the cusp of economic revitalization and development. Berkadia shares our thoughtful approach to affordable housing preservation and the partnership will allow Oglethorpe Place to support the workforce housing community for many years to come,” said Carter Sechrest, Director of Acquisitions.