Dealmaker: Berkadia Announces Multiple Florida Transactions

(Advenir at the Oaks, courtesy of Berkadia)

Berkadia, New York, announced three recent transactions in Florida.

The company secured $55 million in refinancing for a multifamily property in the Ocoee submarket of Orlando. The property is called the Advenir at the Oaks and features 408 units.

Senior Managing Director Charles J. Foschini, Managing Director Christopher Apone, Vice President-Originations Lourdes Carranza-Alvarez and Associate Director Shannon Wilson of Berkadia Miami secured a $54.68 million loan on behalf of the owner, Advenir@The Oaks. The deal closed on Sept. 26.

Berkadia originated, and Freddie Mac purchased, the five-year, fixed-rate loan with a 65% loan-to-value ratio.

Additionally, Berkadia announced the refinancing of 200-unit The Village at San Jose with $19.9 million and 444-unit The Villas at Ortega for $53 million. Both are in Jacksonville.

Managing Director Brad Williamson of Berkadia Miami and Associate Director Wesley Moczul of Berkadia Orlando, along with Senior Managing Director Mitch Sinberg and Managing Directors Matt Robbins and Scott Wadler, secured the loans on behalf of the sponsor, R.O.I. Capital, a real estate investment firm.

Berkadia originated, and Freddie Mac purchased, the five-year, fixed-rate loans, through its Green Advantage program. Both loans have a 35-year amortization schedule and partial interest-only.