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Berkadia Secures $129M Refi for Fairfax Workforce Housing
Berkadia has closed the refinancing of Amberleigh Apartments, a 752-unit garden-style multifamily community in Fairfax, Virginia.
On behalf of the sponsor, Redbrick LMD, Berkadia DC Metro secured a $129.4 million financing package, consisting of a $113.8 million Freddie Mac loan and a $15.6 million preferred equity investment from an undisclosed provider. Located in the Merrifield submarket of Fairfax, the Amberleigh multifamily community is strategically positioned just outside Washington, D.C.’s Capital Beltway.
The financing efforts were led by Senior Managing Director Patrick McGlohn, Managing Director Brian Gould, Senior Director Miles Drinkwalter, and Associate Director Natalie Hershey.
“We are pleased to finance our apartment community with a Freddie Mac loan, and to help address the need for more workforce housing in this area,” added William Passmore, Managing Partner at Redbrick LMD. “The Berkadia team did an excellent job navigating a choppy capital market environment and lined up a very attractive financing outcome.”
