Berkadia Arranges Equity Recap for $138M Florida and Georgia MF Portfolio
Berkadia has arranged an equity recapitalization for a $138 million, 1,217-unit multifamily portfolio in Florida and Georgia. The portfolio is comprised of six properties.
Noam Franklin, Chinmay Bhatt and Cody Kirkpatrick of Berkadia’s New York City-based JV equity and structured capital group sourced the new equity investment from a publicly-traded REIT on behalf of Strategic Holdings. The equity investment comes behind senior Fannie Mae/Freddie Mac loans on each property, and gives Strategic Holdings ample capital to target new acquisitions throughout the southeastern United States.
The properties include Belmont Crossing, Sierra Terrace, Sierra Village and Georgetown Crossing in Atlanta and Savannah, GA, as well as Park on the Square and The Commons in Pensacola and Jacksonville, FL.
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