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Atlanta & Southeast  + Finance  |  March 1, 2021
David Cohen
By: David Cohen

Berkadia Secures $24M Refinancing for Montgomery MF Property

Berkadia has secured a $24.4 million loan to refinance The Reserve Apartments, a garden-style multifamily community in Montgomery, AL.

Located at 3501 Reserve Circle, The Reserve Apartments features one-, two- and three-bedroom floor plans with in-unit washer and dryers and walk-in closets. Community amenities include a fitness center, a swimming pool, a business center, a clubhouse and a theater room. The community is nearby Alabama State University at Montgomery and Interstate 85.

Jennifer Quigley of Berkadia’s Denver office secured the refinancing on behalf of the borrower, Alabama-based Golson Foshee. The deal closed on February 24. The 35-year HUD 223(a)7 MF loan was financed through HUD’s Green MIP Reduction Program.

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Inside The Story

Berkadia's Quigley

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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