Berkadia Secures $14M Construction Loan for South Carolina VA Clinic
Berkadia has secured a $14.3 million construction loan for the development of a Veterans Affairs clinic in Sumter, S.C.
Located at 245 Bultman Drive, the Sumter VA clinic will encompass more than 26,000 square feet throughout the single-story structure. Situated near multiple transit routes, the clinic is less than five minutes away from U.S. 76 and Broad Street, providing access throughout the greater area and into the state capital of Columbia.
Michael Weinberg, Rebecca Van Reken and Alec Fox of Berkadia secured a non-recourse, construction-perm loan with a 20-year term following construction of the asset, which will be occupied by the US Department of Veterans Affairs. The borrower was Blue Cord DevGroup LLC. The financing was sourced through a global investment manager.
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.