Berkadia Secures $39.9M in Financing for Brantley Pines Apartments in Fort Myers, Florida
FORT MYERS, Fla. – July 2, 2024 – Berkadia announced today the financing of Brantley Pines Apartments, a 296-unit apartment community located in Fort Myers, Florida. Senior Managing Director Mitch Sinberg, Vice President Michael Basinski, and Managing Directors Brad Williamson and Scott Wadler of Berkadia Boca Raton and Miami secured a $39.9 million acquisition loan on behalf of the buyer, Interface Properties, a nationwide real estate and development firm based in Boca Raton led by Ken Goodman and Zac Goodman. The deal closed on June 28.
Freddie Mac provided the fixed-rate, five-year loan with Green environmental benefits.
“This was a well-executed acquisition by Interface identifying opportunity when many investors are on the sidelines,” said Basinski. “Their vertically integrated platform propelled by proprietary technology allows them to drive value at a deeper level than many major institutional firms.”
The property was built in two phases between 1988 and 1997. Brantley Pines features one-, two-, and three-bedroom floorplans with private entrances, washers and dryers, stainless steel appliances, and screened-in lanais. Community amenities include a fully equipped 24-hour fitness center, pool, dock and BBQ grills, business center, pickleball court, pet park, on-site parking, and more.
As part of its strategy to optimize asset performance, Interface Properties will implement its proven in-house management solutions to enhance operational efficiencies and complete a light value-add program.
Located at 1801 Brantley Road, the property affords convenient access to Bell Tower Shops, Southwest Florida International Airport, and beach destinations. Major routes, including US Highway 41, State Road 739, and Interstate 75 are easily accessible from the community, offering residents convenient access to Downtown Fort Myers, Naples, Sarasota, Tampa, and Orlando.
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