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Atlanta & Southeast   /   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.

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About the Author

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.
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