Berkadia Florida Mortgage Banking Team

Despite a national slowdown in commercial lending due to a higher interest rate environment and market volatility, the Berkadia Florida Mortgage Banking team led by senior managing director Mitch Sinberg still managed to close just under $3 billion in commercial loans during 2023.  

The team drew upon its longstanding agency lending relationships, along with relationships with life companies, banks and more than 100 debt funds, to complete a number of acquisition loans, construction financing and recapitalizations for longstanding clients.  

Notable transactions in 2023 included:  

• $215 million in construction financing through Bank OZK for Wynwood Plaza, a mixed-use development in Miami’s Wynwood Arts District, on behalf of L&L Holding Company and Oak Row Equities 

• $217-million recapitalization for a three-property, 1,139-unit portfolio in Orlando and Fort Myers, FL on behalf of a joint venture between JSB Capital Group and BLD Group. It consisted of a $185-million fixed-rate Freddie Mac loan and $32 million in preferred equity from Related Fund Management 

• $63 million in debt from a bank lender for Pebb Enterprises and BH Group’s acquisition of the former Office Depot headquarters in Boca Raton, FL  

• $165-million loan from MF1 to refinance the construction loan for The Dorsey, a recently completed, mixed-use development located in Miami’s Wynwood neighborhood co-developed by Related Group, LNDMRK and Tricera Capital. 

• An undisclosed amount in financing through Fannie Mae for Eagle Property Capital’s acquisition of The Boot Ranch, a 432-unit apartment community in Palm Harbor, FL. 

• $47 million in financing via City National Bank and Abanca for the construction of The One at Hope Mills, a 360-unit community in Fayetteville, NC, on behalf of One Real Estate Investment. 

These are some of the reasons we selected the Berkadia Florida team for inclusion in the 2024 Connect CRE Top Mortgage Brokers and Lenders Awards. These awards recognize industry professionals who have demonstrated the highest standards in commercial real estate finance.