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Atlanta & Southeast  + Atlanta Metro  + Finance  |  October 20, 2021
The Carter 4250 Apartments in Norcross, GA
Lisa McDuffie
By: Lisa McDuffie

Berkadia Arranges $50M Debt, Equity Combo for Recapitalization of Norcross Apts

Berkadia has secured debt for the refinance of The Carter @ 4250, a 300-unit apartment community located in outside of Atlanta in Norcross, on behalf of Miami-based One Real Estate Investment. In addition, Berkadia also sourced a capital group to recapitalize the sponsor’s equity partner. 

Mitch Sinberg, senior managing director of Berkadia Boca Raton, and Brad Williamson managing director of Berkadia Miami, arranged the $33.12 million loan through Freddie Mac. Chinmay Bhatt, Noam Franklin and Cody Kirkpatrick of Berkadia JV Equity & Structured Capital lined up an equity partner, MLG Capital, to complete the equity stack for OREI.

Freddie Mac provided a 10-year, floating-rate loan with a competitive rate and five years of interest-only. MLG Capital contributed $16.55 million in equity to the deal.

Built in 1985, The Carter @ 4250 is located on Jimmy Carter Boulevard and offers one- and two-bedroom apartments ranging from 707 square feet to 1,052 square feet.  

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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