Dealmaker: Berkadia Secures $93M for Multifamily, Industrial

Berkadia, New York, secured $92.8 million for multifamily and industrial assets in Florida and Connecticut.

In central Florida the firm announced $47.8 million in combined financing for Urbana Luxury Apartments and Woodhaven Apartments. Senior Managing Director Marc Sumner in Berkadia’s Orlando, Fla., office secured both loans.

Sumner arranged a $35.5 million refinancing for Urbana Luxury Apartments through a life company for sponsor BB Hunter’s Developments LLC, Clermont, Fla. Located at 4403 Hunters Park Lane in Orlando’s Hunter’s Creek neighborhood, Urbana Luxury Apartments has one-, two- and three-bedroom floor plans.

The 20-year fixed-rate loan priced at 4.4 percent with a 60 percent loan-to-value ratio.

Woodhaven Apartments in Rockledge, Fla., received a $12.3 million refinancing. The 30-year loan included 15 years of interest-only payments followed by a 30-year amortization schedule and represented 65 percent of value. Sumner secured the Fannie Mae financing on behalf of Woodhaven Properties LLC.

Woodhaven Apartments at 1913 Wood Haven Circle borders the Village Green Shopping Center and Larry L. Schultz Park.

In Danbury, Conn., Managing Director Yuri Kletsman in Berkadia’s New York office secured $45 million in permanent financing for the Powers Industrial Portfolio of industrial and warehouse buildings.

Citigroup, New York, supplied the funds to Delaware Commerce Park LLC. The deal closed on October 26.

The 10-year loan with a 6.40 percent fixed interest rate blended between a senior and mezzanine loan structure. The loan-to-value ratio equaled 80 percent.