3
PANAMA CITY BEACH, FLA. — Berkadia has arranged $42.5 million on behalf of JSB Capital for the refinancing of Exchange at the Beach, a 232-unit property in the Upper Grand Lagoon neighborhood of Panama City Beach. The financing package consists of a $29 million Freddie Mac loan and $13.5 million in preferred equity. Mitch Sinberg, Scott Wadler, Brad Williamson and Matt Robbins of Berkadia Miami arranged the financing. Exchange at the Beach was developed in 2022 and is comprised of one- and two-bedroom units and amenities that include a pool with a veranda and TV area, a dog park, grilling stations, an outdoor fireplace and free Wi-Fi.