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Washington DC & Mid-Atlantic  + DC Metro  + Finance  |  October 2, 2020
David Cohen
By: David Cohen

Berkadia Secures $54M Refinancing for Maryland MF Property

Berkadia has secured a $54.4 million loan to refinance Monument Village at College Park, a class A multifamily property in College Park, MD.

Located at 9122 Baltimore Ave., the property consists of a mix of studio, one- and two- bedroom floor plans with hardwood-style flooring, granite countertops, stainless steel appliances, walk-in closets and keyless entry doors. Community amenities include a resort-style pool, lounge, fitness center, yoga room and pet spa.

Laura Smith and Rossana Bouchaya of Berkadia’s D.C. Metro office secured the loan on behalf of the borrower, Maryland-based Foulger-Pratt. The HUD 223(F) loan featured a low interest rate and 35-year non-recourse financing at 100 percent of closing costs. The deal closed August 28.

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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