Dealmaker: Berkadia Secures $86M for Virginia Multifamily Property
Berkadia secured an $86 million loan to refinance Meridian at Braddock Station, a 480-unit high-rise multifamily property in Alexandria, Va.
A Berkadia team led by Senior Managing Director J. Tyler Blue, Managing Director Paul Wallace, Senior Real Estate Analyst Robbie Driscoll and Real Estate Analyst Pat Cunningham arranged a 10-year interest-only loan from a life company.
Located at 1200 First Street, Meridian at Braddock Station includes studio, one- and two-bedroom floor plans near the Braddock Road Metro rail station and Old Town Alexandria.
Berkadia also sold and secured financing for Falconhead Apartments, a 248-unit garden-style multifamily property in Austin, Texas. Managing Director Kelly Witherspoon, Directors Justin Cole and Michael Gonzalez and Associate Director Adam Sumrall represented seller SWBC Real Estate and secured buyer Domain Communities.
Berkadia Managing Director Andy Hill and Associate Director Tyler Nowlin secured $43 million in acquisition financing for Domain Communities. The five-year interest-only bridge loan from MetLife Investment Management will also fund planned upgrades at the property.