Berkadia Secures $52M in Construction Financing for One Real Estate Investment’s New Apartments in Columbia, South Carolina
Columbia, S.C. – April 25, 2024 – Berkadia announced today that it secured construction financing for The ONE at Columbia, a 360-unit, three-story garden-style multifamily property located in Columbia, South Carolina. Managing Directors Brad Williamson and Scott Wadler, Senior Managing Director Mitch Sinberg, and Managing Director Matt Robbins of Berkadia South Florida secured a $52 million loan on behalf of the sponsor, Miami-based One Real Estate Investment (OREI), a real estate investment and asset management firm founded by Jeronimo Hirschfeld. The firm currently owns and manages a diverse portfolio valued at more than $1.5 billion. The deal closed on April 24.
North River Partners, a New York City-based real estate firm specializing in bridge and construction financing, in conjunction with Amzak Capital Partners, provided the loan.
“The ONE at Columbia is located near the state’s fast-growing capital, which boasts several large corporate headquarters and is seeing major new developments like the Volkswagen $2 billion electric vehicle plant,” said Williamson. “Strong projected population growth over the next four years is likely to drive demand for high-quality rental communities in and around Columbia.”
Completion of The ONE at Columbia is slated for Q4 2025. The property will feature 360 one-, two-, and three-bedroom units with custom cabinetry, quartz countertops, smart features, and more. Property amenities include a sauna, resort-style zero-entry pool, electric car charging stations, and more.
“The ONE at Columbia is representative of everything that gets us excited about the lending space; an institutional-level sponsorship team, a robust growth market, and an overwhelmingly pro-business development landscape,” said Jeff Rosenfeld, who along with Sean Robertson, are the managing partners at North River Partners.
Located approximately 15 miles north of Downtown Columbia at 4415 Percival Road, the property affords residents convenient access to the downtown and the University of South Carolina in Northeast Columbia. The neighborhood is near recreational attractions like P.B. Dye-designed golf course and Sesquicentennial State Park, and destination shopping and entertainment like Village at Sandhill.
One Real Estate Lands $52M For 360-Unit Project | Multi-Housing News