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Washington DC & Mid-Atlantic  + DC Metro  + Apartments  |  May 25, 2022
Berkadia has secured $36.6 million in construction financing for Huntington Pointe Apartments in Newport News, VA.
Lisa McDuffie
By: Lisa McDuffie

$37M Construction Loan Initiates 176-Unit Multifamily in Newport News

Berkadia has secured $36.6 million in financing for Huntington Pointe Apartments, a to-be constructed 176-unit garden-style multifamily property in Newport News, VA.

Amy Gay and Stephen Murden of Berkadia arranged the permanent construction financing on behalf of the borrower, VA-based The Breeden Company. The 40-year HUD 221(d)(4) loan financed through the Green MIP Reduction program features a 3.36 percent interest rate and an 85 percent loan-to-cost ratio.

Huntington Pointe Apartments will sit at 903 Denbigh Boulevard and feature one-, two- and three-bedroom floor plans in one elevator building and two carriage-style walk-up buildings.

Community amenities will include a swimming pool within a courtyard and a clubhouse with a club room, a kitchen, a business office and a fitness center. Additional recreational amenities will be provided in the courtyard.

Read More News Stories About: Berkadia
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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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