Washington DC + DC Metro + Finance | January 23, 2023

The Breeden Company has secured $81.3 million in financing for Emerald Point Apartments & Townhomes in Virginia Beach, VA.

The Breeden Company Secures $81M for Second Refi of Virginia Beach Multifamily

The Breeden Company has secured $81.3 million in financing for Emerald Point Apartments & Townhomes, an 863-unit multifamily property located in Virginia Beach, VA.

Patrick McGlohn, Miles Drinkwalter, and Patrick Cunningham of Berkadia arranged the permanent refinancing on behalf of The Breeden Company, a Virginia Beach-based real estate developer. The deal mark’s Berkadia and The Breeden Company’s second refinancing of the property in the past decade, according to McGlohn.

Emerald Point Apartments & Townhomes sits at 2100 Westminster Lane and features studio-, one-, two- and three-bedroom units. Community amenities include swimming pool, fitness center, three tennis courts, playground, clubhouse and conference/activity room.

The property is convenient to Sentara Virginia Beach General Hospital, Virginia Aquarium and Marine Science Center, Virginia Beach Sports Center and the shops and restaurants near the Virginia Beach Oceanfront.

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Berkadia's McGlohn

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.