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Atlanta & Southeast  + Southeast  + Apartments  |  January 29, 2021
David Cohen
By: David Cohen

Berkadia Secures $20M Refinancing for Montgomery MF Property

Berkadia has arranged a $19.7 million loan to refinance The Morgan at EastChase, a garden-style multifamily community in Montgomery, AL.

Located at 2101 Berryhill Road, the community features one-, two- and three-bedroom floor plans with granite slab kitchen countertops, gourmet kitchens, in-unit full-sized washers and dryers, marble bathroom counters, large walk-in closets and walk-in showers. Community amenities include a 24-hour fitness center, resort style swimming pool, dog park, car wash area, playground, covered seating area and controlled access gates.

Jennifer Quigley of Berkadia’s Denver office completed the $19.7 million loan on behalf of the borrower, Alabama-based Foshee Residential Management Co. The 40-year HUD 223(a)7 loan features a 2.34% interest rate. The deal closed January 26.

For comments, questions or concerns, please contact David Cohen

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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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