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Washington DC & Mid-Atlantic  + Finance  |  July 16, 2020
David Cohen
By: David Cohen

Berkadia Secures $31M Refinancing for Metro D.C. Apartments

Berkadia has secured a $30.5 million loan to refinance Oak Ridge Apartments, a 491-unit, garden-style apartment community in Riverdale, MD.

Located at 5510 Madison St., community features updated one- and two-bedroom floor plans with modern, fully equipped kitchens and hardwood flooring in the living areas. Community amenities include a swimming pool and laundry facilities.

Donald Marshall of Berkadia’s Richmond office secured the permanent refinancing for the property on behalf of the borrower, Riverdale Village LP. Terms of the low-leverage Fannie Mae financing included a sub-three percent interest rate, with interest-only payments over the full 10-year-term. The deal closed on June 22.

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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