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Washington DC & Mid-Atlantic  + Apartments  |  September 25, 2020
David Cohen
By: David Cohen

Berkadia Secures $30M Acquisition Loan for Workforce Housing Community in Maryland

Berkadia has secured a $29.7 million loan for the acquisition of North Pointe, a 235-unit workforce housing community in Hyattsville, MD.

Located at 5735 29th Ave., North Pointe is a garden-style community built in 1954 that consists of seven buildings with one-, two- and three-bedroom apartment homes as well as 243 surface parking spots. Community amenities include a playground, grilling area, soccer field, two courtyards and two laundry facilities. It is located adjacent to Heurich Park, which has a dog park.

Mitch Sinberg and Matthew Robbins of Berkadia’s Boca Raton office secured the financing on behalf of a JV between July Residential and Firm Capital Apartment REIT. Berkadia originated and Freddie Mac purchased the 12-year, fixed rate mortgage.

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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