Berkadia Secures Debt & Equity on Apts. Near Texas A&M
Berkadia secured debt and equity for the acquisition of the 192-unit Element at University Park in College Station. Florida-based Mitch Sinberg and Brad Williamson secured a 10-year Freddie Mac, floating-rate loan on behalf of One Real Estate Investment (OREI), a real estate investment and asset management firm based in Miami.
Berkadia’s Joint Venture Equity and Structured Capital Group in New York, led by Chinmay Bhatt, Noam Franklin and Cody Kirkpatrick, lined up an institutional quality equity partner to complete the equity stack with a preferred equity investment through Electra Capital.
“College Station’s propitious market offers a compelling opportunity to tap into Texas A&M’s 70,000 students, which make up more than half of College Station’s general population,” said Williamson.
Added Jeronimo Hirschfeld, CEO of OREI, “Although this transaction presented new challenges in a unique investment climate, Element at University Park is an excellent acquisition for OREI’s growing market-rate portfolio.”
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