
Berkshire Residential Secures $135M for Acquisition of Jupiter Multifamily
Boston-based Berkshire Residential Investments has secured $135 million of first mortgage debt for the acquisition of The Sophia at Abacoa, a 390-unit multifamily community in Jupiter, FL, from Mesa West Capital.
The financing was arranged by Matt Williams and James Maynard at Newmark.
Mesa West Capital was represented in the transaction by the legal team led by Mark Osher, Eric Steiglitz, and Zak Baron from Gibson, Dunn & Crutcher LLP. Berkshire was represented Cara Nelson and Oriana Montani from DLA Piper LLP.
The Sophia at Abacoa was built in 2002 and offers a variety of one-, two- and three-bedroom floor plans housed in low-rise residential buildings on a 22-acre site. The property is walking distance to Downtown Abacoa and proximate to Roger Dean Stadium plus 16 golf and country clubs.
Mesa West Capital has originated over $550 million in first mortgage and mezzanine debt in FL over the past 12 months.
- ◦Sale/Acquisition
- ◦Financing