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Atlanta & Southeast  + Southeast  + Office  |  September 2, 2021
David Cohen
By: David Cohen

Berkadia Secures $51M Recapitalization for Huntsville Office Portfolio

Berkadia has secured a $51 million loan to refinance a 670,890-square-foot office/flex portfolio at Cummings Research Park in Huntsville, AL.

The three-property portfolio consists of Perimeter Center (two mid-rise office buildings); Progress Center (five single-story office/flex buildings) and 110 Wynn (two single-story office/flex buildings). The portfolio, which is approximately six miles from downtown Huntsville, is 91% leased. The portfolio is located at 1500 and 1525 Perimeter Parkway; 6767 Old Madison Pike NW and 110 Wynn.

Cummings Research Park is one of the leading science and technology parks internationally, with Fortune 500 companies, local and international tech companies, U.S. Space and defense agencies, start-ups and higher education institutions.

Charles Foschini and Christopher Apone of Berkadia’s Miami office secured financing on behalf of the owner, Triangle Capital Group. The lender, Blue Vista Finance, provided a seven-year, fixed-rate loan, with 5 years of interest-only payments and a 30-year amortization thereafter.

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Inside The Story

Berkadia’s Foschini

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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