Berkadia secured a capital partner for construction of the $59-million, 307-unit Zoey, a ground-up multifamily development spearheaded by the Michaels Organization. Berkadia’s Joint Venture Equity and Structured Capital Group, led by Chinmay Bhatt, Noam Franklin and Cody Kirkpatrick, identified and then helped structure the deal between the unnamed capital partner and the developer. Zoey is Michaels’ first development in the Austin market.

Located at 5700 E. Riverside Dr., Zoey is anticipated to open in late summer 2021, offering structured parking, fitness areas, co-working spaces and lounges. Additional amenities will include a pool, bike storage and a dog-wash station. The property will offer a variety of floorplans, from studios to three-bedroom units.

MSC Architects LLC. of Dallas, Texas is the master architect, and Michaels Construction the general contractor. Michaels will also provide property management services.

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