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Berkadia has arranged the $45-million recapitalization of Residences at Lakeview in Memphis, TN.

Berkadia Arranges $45M Recap of 827-Unit Community in Memphis

Berkadia has arranged the $45-million recapitalization of Residences at Lakeview, an 827-unit apartment community in Memphis, TN.

Mitch Sinberg, Brad Williamson, Matthew Robbins and Scott Wadler and Mike Basinski of Berkadia secured the financing on behalf of the ownership, Atlas Real Estate Partners and West End Capital Group.

Fannie Mae provided the 10-year, fixed-rate loan with seven years of interest-only payments.

“Atlas-West End acquired this community in February 2021 and recently completed a heavy value-add program,” said Mitch Sinberg. “This loan gives the sponsor a long-term fixed-rate refinancing following the completion of that program.”

Residences at Lakeview was built in 1969 on 46 acres in the Hickory Hill submarket near I-240 and the University of Memphis. Community amenities include a newly built clubhouse and pool, fitness center, four playgrounds, a dog park, on-site maintenance and management, package services and scenic views.

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Berkadia's Sinberg

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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