Search
 

Berkadia Closes $37M in Financing

AUSTIN-The local office of the commercial mortgage company closes four loans on multifamily properties in Texas, relying on Freddie Mac and CMBS help.

By Amy Wolff Sorter | Updated on May 10, 2013

AUSTIN-The local office of Berkadia Commercial Mortgage LLC has closed four loans totaling $37 million on four multifamily properties in Texas. Berkadia and the borrowers closed the loans with help from CMBS and Freddie Mac financing.

Berkadia vice president Andy Hill worked with JAW Equity Management to originate $8.1 million and $7 million in refinancing for the Lodge Apartments and Waterfall Park, both of which are in Houston. C-III Commercial Mortgage funded the 10-year, fixed-rate CMBS loans, which had a mid-4% interest rate. The 593-unit Lodge Apartments are at 7825 Corporate Dr., while the nearby 635-unit Waterfall Park is at 7502 Corporate Dr.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.