Berkadia Arranges $32M Refi for Apartment Community near UMBC in Catonsville
Berkadia has arranged the $32.2 million recapitalization of Melvin Park Apartments, a 263-unit apartment community in Catonsville, MA near the University of Maryland, Baltimore County.
Mitch Sinberg, Matt Robbins and Abigail Beauchamp of Berkadia secured the financing on behalf of Melvin Park Owner LP.
Freddie Mac provided the 10-year loan with seven years of interest only.
“Melvin Park Apartments are exceptionally located in a submarket with strong fundamentals that also offers its residents the benefits of a suburban setting that is close to all that the city provides,” said Robbins.
Located at 351 Suter Road, Melvin Park Apartments offers two-bedroom apartments of 753 square feet. Community amenities include a covered picnic and barbeque area, two playgrounds, designed landscaping, a laundry care center, a dog park and outside storage.
Melvin Park Apartments situated near Route 40 and close to the University of Maryland, Frederick Road, Patapsco State Park and the Earl and Darielle Linehan Concert Hall.
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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