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Florida & Gulf Coast  + Finance  | 

$323M Refi for 13-Property MF Portfolio in Southeast, Midwest

Berkadia arranged a total of $323 million in refinancing for a 13-property multifamily portfolio with 3,911 units throughout the Midwest and Southeast U.S. Mitch Sinberg, Matt Robbins and Jared Hill arranged the loans on behalf of STAR Real Estate Ventures, a JV between El-Ad National Properties and Yellowstone Portfolio Trust.

Berkadia originated a seven-year, fixed rate loan for each property with a highly-competitive spread and Freddie Mac purchased the loans.

“The portfolio represents a diverse set of properties that have stabilized under the sponsor’s ownership after a number of years,” said Sinberg.

The properties in the portfolio include:

– Tuscany Pointe Boca, 180 units at 23126 Post Gardens Way in Boca Raton, FL
– Savannah Place Apartments, 190 units at 22356 Calibre Court in Boca Raton, FL
– Melrose on the Bay Apartments, 358 units at 16321 Bolesta Rd. in Clearwater, FL (pictured)
– Park at Northside, 192 units at 3876 Northside Dr. in Macon, GA
– Rivoli Run, 188 units at 200 Charter Lane in Macon, GA
– The Manchester at Wesleyan, 328 units at 1665 Wesleyan Dr. in Macon, GA
– The Grove at Stonebrook, 188 units at 1405 Beaver Ruin Rd. in Norcross, GA
– Traditions at Augusta Apartments, 256 units at 3722 Walton Way Extension in Augusta GA
– Verandas on the Green, 222 units at 101 Fairway Ridge in Aiken, SC
– Summerlin at Concord, 160 units at 500 Summerlake Dr. Southwest in Concord, NC
– Avalon at Northbrook, 256 units at 10230 Avalon Way in Fort Wayne, IN
– Windsor Lakes, 762 units at 7499 Woodward Ave. in Woodridge, IL
– Legacy of Cedar Hill, 600 units at 720 North Joe Wilson Rd. in Cedar Hill, TX

Connect Apartments is planned next month in Los Angeles. You can get more information and register to attend on this link.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Financing
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