Berkadia helped secure equity and debt financing for the acquisition of Park Crossing Apartments, a 280-unit multifamily garden-style property in Lilburn, Georgia.
Berkadia’s JV Equity & Structured Capital Group in New York, led by Noam Franklin, Chinmay Bhatt and Cody Kirkpatrick, introduced the $11.5 million joint venture equity partner to the client, Miami-based One Real Estate Investment LLC.
Senior Managing Director Mitch Sinberg and Senior Director Brad Williamson, in Berkadia’s South Florida offices, assisted in the debt, which included securing $3.2 million in supplemental financing from Fannie Mae and facilitating the assumption of the $18.5 million senior loan.
“Berkadia’s newly formed JV Equity & Structured Capital Group’s quick-to-market process was able to get term sheets from institutional capital within days of taking on the assignment,” said Franklin. “This is a testament to One Real Estate Investment’s (OREI) caliber as an established owner/operator.”