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Berkadia Aids Social Impact Fund in Purchase of $40M Atlanta Affordable Multifamily
Berkadia has arranged $40 million in acquisition financing for Highlands at East Atlanta, a 250-unit, affordable multifamily property in Atlanta, GA.
A Berkadia team of Jeff Lawrence and Matthew Baptiste secured the financing on behalf of the purchaser, Infinity RE Impact II, LLC, a social impact fund that owns 19 affordable communities nationwide.
The $40 million loan through Berkadia’s proprietary lending platform will provide financing for the acquisition and capital improvements. “The ability to offer proprietary bridge lending has been critical to helping our clients fulfill their investment objectives and has brought more affordable housing to the communities that need it most,” said Baptiste.
Highlands at East Atlanta is located within a designated Opportunity Zone and Qualified Census Tract. All units are subsidized via a project-based, Section 8 contract providing residents with housing assistance.
Highlands at East Atlanta is one of 30 properties acquired by Infinity’s affordable housing funds since early 2020.
- ◦Sale/Acquisition
