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Atlanta & Southeast  + Southeast  + Apartments  | 

Berkadia Brokers Sale of 1002-Unit Memphis Apartments

Berkadia has arranged the sale of Waterview Apartment Homes, a 1,002-unit apartment community in Southeast Memphis, TN. The sales price was not disclosed.

Located at 6860 Quince Road, the property was built in 1985 and consists of a mix of one- and two-bedroom apartments ranging from 533 square feet to 1,160 square feet. The pet-friendly community includes 22 acres of lakes with water features, lighted tennis courts, a fitness center, indoor and outdoor resort-style pools and spas as well as a sundeck and lounge area. 

Patrick Jordan of Berkadia’s Memphis office represented the seller, CapReit, a multifamily real estate company, in the transaction. In addition, Charles Foschini and Christopher Apone of Berkadia’s Miami office secured acquisition financing on behalf of the buyer, Blue Magma. Arbor Realty Trust originated the $82 million bridge loan. The non-recourse, floating-rate three-year interest-only loan includes two one-year extension options.

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Berkadia’s Jordan

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

  • ◦Sale/Acquisition
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