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From the Newsroom
November 9, 2021
Berkadia Secures $16.125 Million in Financing for a Single-Family-Rental Build-for-Rent Community in Edmond, Oklahoma
Edmond, OK – November 9, 2021 – Berkadia announced today the financing of Highland 55, a 72-unit, build-for-rent-style multifamily property in Edmond, Oklahoma. Director Mackinley Robinson of Berkadia Seattle secured the $16.125 million in construction takeout financing through Fannie Mae on behalf of the buyer, an Oklahoma-based partnership. The deal closed on October 29. The 10-year loan featured 89 percent…
November 9, 2021
Berkadia Secures $56.2 Million in Construction Financing for Multifamily Property in Virginia
RICHMOND, Va. – November 9, 2021 – Berkadia today announced the $56.2 million in financing secured for Gravity on 400, a 273-unit high-rise multifamily property in Norfolk, Virginia. Director Amy Gay of Berkadia Richmond secured the construction financing on behalf of the borrower, Virginia-based Marathon Development Group. The deal closed on November 4. The HUD 221(d)(4) loan through the Green MIP Reduction program features a…
November 8, 2021
Berkadia Secures $72 Million in Construction Financing for Multifamily Property in Florida
LOS ANGELES – November 8, 2021 – Berkadia today announced the financing secured for the development of Palm Beach Riverstone, a midrise multifamily property in West Palm Beach, Florida. Senior Director George Spadier of Berkadia Los Angeles secured the $72 million in construction financing for the property through a correspondent life company. The deal closed on October 21. The 11-year…