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Florida & Gulf Coast  + South Florida  + Finance  |  September 10, 2020
David Cohen
By: David Cohen

Berkadia Secures $43M Acquisition Loan for Fort Lauderdale Apartments

Berkadia has secured a $43.2 million acquisition loan for AMLI Flagler Village, a 218-unit, mid-rise multifamily property in the Flagler Village neighborhood of Fort Lauderdale.

Located at 440 NE 4th Ave., the property was built in 2009 and features loft-style units averaging 1,047 square feet with first floor private yards. Amenities include a resort-style swimming pool with sundeck, a two-story, 24-hour fitness center with strength and cardio training zones, dog park and a controlled access package room. The former owner completed $1.3 million in capital improvement projects around the property since 2017.

Charles Foschini and Chris Apone of Berkadia’s Miami-based Mortgage Banking team secured the financing on behalf of the borrower, Jenco Properties. Freddie Mac provided the 10-year, fixed-rate loan with full-term interest-only payments. The property will be renamed Aviah Flagler Village.

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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