Berkadia

Bridgewater-Grand
BerkadiaFloridaInvestment SalesNewsSoutheast

Berkadia Arranges Sale of Bridgewater Grand in Lakeland

by Lynn Peisner

LAKELAND, FLA. — TrimCor has sold Bridgewater Grand, a 300-unit property in Lakeland, to Hamilton Point Investments for an undisclosed amount. Managing Director David Etchison, Senior Managing Directors Cole Whitaker and Jason Stanton and Director Mary Beale of Berkadia Central & North Florida led the transaction on behalf of the seller. The property was 95 percent occupied on July 10, the date of the sale. Lakeland is located midway between Tampa and Orlando. Bridgewater Grand was developed in 2020 and is a three-story, garden-style community on 31 acres overlooking a …

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Legend-Oaks-Tampa
BerkadiaFinanceFloridaNewsSoutheast

Berkadia Arranges $107.3 Million Refinancing of Three Vintage Properties In Central Florida

by Lynn Peisner

ORLANDO, FLA. — Berkadia has arranged $107.3 million in debt to refinance a three-property, 944-unit portfolio owned by Tampa, Florida-based Robbins Property Associates. The assets are located in and around Orlando. Senior Managing Director Mitch Sinberg, Managing Directors Scott Wadler and Brad Williamson and Vice President Hugo Hernandez of Berkadia Boca Raton and Miami arranged the 10-year, fixed-rate Freddie Mac loan. The deal closed on June 30. The properties are the 460-unit Briarcrest at Winter Haven, built in 1972; Legend Oaks in Tampa with 416 units that was constructed in …

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Vida-Lakewood-Ranch
BerkadiaFloridaInvestment SalesNewsSoutheast

Zilber Residential Sells Bradenton Asset for $92 Million

by Lynn Peisner

BRADENTON, FLA. — Zilber Residential Group, a Milwaukee-based developer, owner and property manager founded in 1949, has sold Vida Lakewood Ranch in Bradenton to an undisclosed investor for $92 million. Berkadia Senior Managing Director Matt Mitchell and Director Chris Burtner represented Zilber, which developed the asset, in the deal. The two-story, garden-style Vida is located in Lakewood Ranch, a master-planned community that spans 50 square miles in Manatee and Sarasota counties. The property is comprised of one- and two-bedroom units. Amenities include a fitness center, shaded game lawn and grilling …

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Alex-at-Patterson-Place
BerkadiaBuild-to-RentInvestment SalesNewsSouth CarolinaSoutheast

Berkadia Arranges Hilton Head Sale

by Lynn Peisner

HILTON HEAD ISLAND, S.C. — Berkadia has arranged the sale of Cottages at Alex Patterson Place, a build-to-rent (BTR) property in Hilton Head. Berkadia represented the seller, a partnership between Putnam Atlantic Properties and Verde Capital, in the deal, which closed on June 25. The buyer was Florida-based Sakim Realty Holdings. The Cottages at Alex Patterson comes “permit-ready” for a second phase that could include the development of six additional cottages, according to Berkadia.

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Sunlake-North
BerkadiaBuild-to-RentDevelopmentFloridaInvestment SalesNewsSoutheast

Maymont Homes, Dinerstein to Develop BTR Project Near Tampa

by Lynn Peisner

LAND O’LAKES, FLA. — Berkadia has arranged the sale of a 28.5-acre parcel. Brookfield Residential Land was the seller, and Maymont Homes was the buyer. The site, located in the master-planned community of Bexley 30 miles north of Tampa, is entitled for low-density multifamily. Maymont will partner with Dinerstein Cos. to develop a 250-unit build-to-rent (BTR) community on the site. The project will be complete by the fourth quarter of 2026. The unnamed project will include a mix of two- and three-bedroom residences featuring private yards, attached garages and access …

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Pointe-at-Carrollwood-Tampa
BerkadiaFinanceFloridaNewsSoutheast

Berkadia Arranges $38.3 Million Refinancing for Beacon Realty Group

by Lynn Peisner

TAMPA, FLA. — Berkadia has arranged approximately $38.3 million in debt and equity for the refinancing of Pointe at Carrollwood owned by Miami-based Beacon Realty Group. Beacon bought the 224-unit Tampa asset in 2022 as a value-add acquisition and has since invested about $3.6 million in capital improvements. The firm will use the financing to retire existing acquisition debt. The property is currently 95 percent occupied. Berkadia arranged a $29.9 million, five-year fixed-rate Freddie Mac loan. In addition, Miami-based Atlantic Pacific Companies, a privately owned real estate firm, provided a …

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The-Indigo-Apartments-Clearwater
Affordable HousingBerkadiaDevelopmentFloridaNewsSoutheast

Sunrise Affordable Housing Locks in Financing to Convert Clearwater Market-Rate Property

by Lynn Peisner

CLEARWATER, FLA. — Sunrise Affordable Housing Group has arranged financing to convert The Indigo Apartments in Clearwater from a market-rate to an affordable community. Part of the financing includes a $20.3 million HUD loan arranged by Berkadia. Other sources of financing include federal Low-Income Housing Tax Credit (LIHTC) equity from R4 Capital, two loans from the City of Clearwater and land trust equity from Pinellas County. Following a renovation, the 208-unit tower will be converted from market-rate housing into affordable housing for families earning between 30 and 80 percent of …

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Addison-Landing-Jacksonville
BerkadiaFloridaInvestment SalesNewsSoutheast

Berkadia Arranges $44.8 Million Jacksonville Sale

by Lynn Peisner

JACKSONVILLE, FLA. — Berkadia has arranged the sale of Addison Landing in Jacksonville. WRH Realty out of St. Petersburg, Florida, sold the 289-unit community to Tampa-based Argyle Real Estate Capital. According to public records, the asset traded for approximately $44.8 million. Senior Director Greg Rainey and his team at Berkadia Central & North Florida represented the seller. Matt Robbins, Mitch Sinberg, Brad Williamson, Scott Wadler and Hugo Hernandez of Berkadia Boca Raton and Miami lined up financing for the buyers, which included a $31.3 million, Freddie Mac-backed loan with a …

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Foster-Creek-Tukwila
BerkadiaInvestment SalesNewsWashingtonWestern

Berkadia Arranges Seattle Suburb Sale of Foster Creek

by Lynn Peisner

TUKWILA, WASH. — Investors Management Group has sold Foster Creek, a 179-unit property in Tukwila, 12 miles south of Seattle. According to the Puget Sound Business Journal, the sales price was $28.3 million, and the buyer was Spokane Indian Housing Authority. Managing Directors Benjamin Johnson and David Sorensen, Director George Pallis, Associate Director Peter Dudunakis and Senior Managing Director Kenny Dudunakis of Berkadia Seattle led the transaction on behalf of the seller. Senior Managing Director Tim Leonard and Managing Director Chris Crump of Berkadia Dallas secured the acquisition financing on …

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Mayla-Cypress-Creek
BerkadiaDevelopmentFinanceFloridaNewsSoutheast

Grover Corlew Secures $92 Million to Develop Mayla Cypress in Fort Lauderdale

by Lynn Peisner

FORT LAUDERDALE, FLA. — Grover Corlew, a Boca Raton, Florida-based developer, has secured a $92 million construction loan to build Mayla Cypress, a 312-unit community in the Cypress Creek submarket of North Fort Lauderdale. Berkadia Managing Director Scott Wadler, Vice President Patrick Johnson, Senior Managing Director Mitch Sinberg, along with Brad Williamson and Matthew Robbins, managing directors of Berkadia Miami and Boca Raton, arranged the three-year construction loan provided by Affinius Capital. The deal closed on May 30. Mayla Cypress is situated on a 3.7-acre site Grover Corlew assembled in …

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