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Florida & Gulf Coast  + Finance  |  September 24, 2020
David Cohen
By: David Cohen

Berkadia Arranges $46M Acquisition Financing for New Orleans MF Portfolio

Berkadia has secured $34.2 million in debt and sourced an equity partner in the amount of $11.2 million for the acquisition of a two-property multifamily portfolio in New Orleans.

One Real Estate Investment acquired the 579-unit portfolio, which consists of the 199-unit Whitney Manor at 1117 Whitney Ave. and the 380-unit Westchase Apartments at 1013 Manhattan Blvd. The two garden-style properties were built in 1975 and are located approximately three miles apart in Jefferson Parish.

Mitch Sinberg and Brad Williamson of Berkadia’s South Florida offices arranged the loans through Freddie Mac’s Green Advantage Program. Additionally, Berkadia’s Joint Venture Equity and Structured Capital Group in New York, led by Chinmay Bhatt, Noam Franklin and Cody Kirkpatrick, sourced an equity partner for One Real Estate Investment.

For comments, questions or concerns, please contact David Cohen

Read More News Stories About: Berkadia
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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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