Berkadia Provides $45M Bridge Loan for Silver Spring MF Property
Berkadia has provided a $44.8 million bridge loan for Heritage at Silver Spring, a multifamily property in Silver Spring, MD.
Located at 8021 Georgia Ave., Heritage at Silver Spring features studio, one- and two-bedroom floor plans with hardwood flooring, in-unit washers and dryers, air conditioning and walk-in closets. Amenities include a golf-simulator, a swimming pool, a business center and a fitness center.
Laura Smith and Rossana Bouchaya of Berkadia’s D.C. Metro office secured the loan on behalf of the borrower, Heritage Silver Spring Titleholder, LLC, a Maryland-based Foulger-Pratt sponsorship. The six-month Berkadia bridge loan features an adjustable interest rate and a 25-year amortization schedule.
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.