News
Berkadia's $22M Deals
June 23, 2014
Berkadia SVPs Andy Hill and Matt Greer (based in Austin, their view is a little different than ours) originated $22M for the acquisition of two multifamily properties. The floating-rate loans were secured through Freddie Mac. First up was helping CFH investment Partners purchase The Club at Stablechase, a 150-unit property built in 2000 and 95% occupied. That snagged a sub-3% interest rate for a seven-year loan and features two years of I/O followed by 30-year amortization. Next, Andy and Matt closed a seven-year loan to Mosaic Residential to purchase Timberwalk Apartments. That 300-unit complex also received a sub-3% interest rate. It's in the strong Bear Creek submarket and is 96% occupied.
