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Washington DC & Mid-Atlantic  + Finance  |  September 2, 2020
David Cohen
By: David Cohen

Berkadia Provides $30M Bridge Loan for Annapolis MF Property

Berkadia has announced the closing of a $30 million bridge loan to real estate developer Fairstead to refinance and preserve the affordability of Woodside Gardens, a garden-style multifamily property in Annapolis, MD. Matthew Napoleon of Berkadia’s Columbus, Ohio office secured the financing on behalf of Fairstead.

Located at 702-705 Newtowne Drive, the community features two- and three-bedroom floor plans with kitchen appliances. Amenities include a community room, computer lab, playground, laundry facility and an outside seating area.

“We appreciate Berkadia’s efforts in securing this transaction and their seamless execution of the financing, which will assist Fairstead in maintaining and preserving Woodside Gardens as an affordable housing development for a long time to come,” said Will Blodgett, partner at Fairstead.

For comments, questions or concerns, please contact David Cohen

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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.
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