Dealmaker: Berkadia Secures $52M in Construction Financing for South Carolina Multifamily Property

(Illustration courtesy of Berkadia)

Berkadia, New York, secured $52 million in construction financing for The ONE at Columbia, a three-story multifamily property in Columbia, S.C.

Managing Directors Brad Williamson and Scott Wadler, Senior Managing Director Mitch Sinberg and Managing Director Matt Robbins of Berkadia South Florida secured the loan for sponsor One Real Estate Investment, Miami. North River Partners, a New York City-based real estate firm specializing in bridge and construction financing, provided the loan in conjunction with Amzak Capital Partners, Boca Raton, Fla.

The deal closed on April 24.

“The ONE at Columbia is located near the state’s fast-growing capital, which boasts several large corporate headquarters and is seeing major new developments like the Volkswagen $2 billion electric vehicle plant,” Williamson said. “Strong projected population growth over the next four years is likely to drive demand for high-quality rental communities in and around Columbia.”

Completion of The ONE at Columbia is slated for late 2025. The property will have 360 one-, two- and three-bedroom units plus a sauna, resort-style zero-entry pool and electric car charging stations.

Located 15 miles north of downtown Columbia at 4415 Percival Road, the property is close the University of South Carolina in northeast Columbia and recreational attractions including Sesquicentennial State Park and shopping/entertainment venue Village at Sandhill.