LAKE ORION, MICH. — Berkadia has arranged a $35.2 million refinancing loan through Freddie Mac for Indian Lake Village Apartments, a 394-unit community in Lake Orion, a village approximately 38 miles north of Detroit. Fenton Management Co. out of Farmington Hills, Michigan, is the owner/borrower. Wesley Moczul of Berkadia Orlando led the transaction, with support from Mitch Sinberg, Scott Wadler, Matt Robbins and Brad Williamson of Berkadia Boca Raton.
Located at 3001 Lake Village Blvd., Indian Lake Village Apartments is situated on approximately 58 acres and was constructed between 1995 and 1997. The property consists of 27 residential buildings featuring a combination of two-story apartment buildings and townhomes. The community offers a mix of one- and two-bedroom units averaging approximately 1,012 square feet. Amenities include a clubhouse, fitness center, business center, pool, tennis and volleyball courts, sauna, game room, billiard room, library and conference room, dog park and covered parking.