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Atlanta & Southeast  + Finance  |  August 6, 2020
David Cohen
By: David Cohen

Berkadia Secures $24M Refinancing for South Georgia Workforce Housing Project

Berkadia has secured $24 million in financing for the recapitalization of Liberty Club Apartments, a new 240-unit, garden-style apartment community located in Hinesville, GA.

Located at 915 East General Stewart Way, the community was built in 2019 and consists of 9 residential buildings, 11 garage buildings and a clubhouse. Floor plans at the community average 1,153 square feet. Amenities include a resort-style pool, clubhouse, fitness center, dog park and fishing ponds.

Michael Weinberg, Alec Fox and Wesley Moczul of Berkadia’s Orlando office secured the financing on behalf of the borrower, Hillpointe, a fully integrated real estate development and investment management firm focused on workforce housing opportunities. Fannie Mae provided the twelve-year, fixed-rate loan with five-years of interest-only payments. Proceeds will be used to retire the existing construction loan.

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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