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Florida & Gulf Coast  + North Florida  + Finance  |  January 21, 2020
David Cohen
By: David Cohen

Berkadia Secures $22M Acquisition Loan for Jacksonville MF Community

Berkadia has arranged $21.5 million in acquisition financing for Charter Landing Apartments, a 332-unit multifamily community in Jacksonville. Brad Williamson of Berkadia’s Miami office secured the loan on behalf of Savlan Capital, a Hollywood, FL-based real estate investment firm. Savlan acquired the community for $28 million.

Built in 1975, the community is located at 5885 Edenfield Rd., and consists of one, two and three-bedroom units. Community amenities include two tennis courts, two swimming pools, a 24-hour fitness center, playground and package service. Savlan plans to invest $4.3 million in capital improvements at the property.

A regional bank provided the five-year, non-recourse, 3.75% fixed-rate loan with two years of interest-only payments.

UrbanX Group’s Andrew Hellinger has been announced as a speaker for Connect South Florida on Feb. 26, 2020. For more information, or to register, click here.

For comments, questions or concerns, please contact David Cohen

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Connect With SavlanConnect With Berkadia’s Williamson

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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