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DENVER-GlobeSt.com has exclusively learned that Berkeley Point Capital LLC has provided $64.35 million in combined financing for the refinance of an urban in-fill apartment community located in Denver, CO built in two phases—the Manhattan Tower, a 266-unit high-rise class-A apartment community constructed in 2004 (Phase I) and the Manhattan Lofts, a 134-unit mid-rise, class-A, apartment community constructed in 2012 (Phase II).
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The sponsor is a joint venture between GID, a privately held, globally diversified, and fully integrated real estate organization located in Boston, and a public pension fund. The joint venture focuses its investments in institutional core multifamily real estate.
The loans were originated under the Fannie Mae Delegated Underwriting and Servicing program. The loans were structured in order to allow the sponsor the requested flexibility.
“We are pleased to once again partner with GID to help meet their investment strategy needs.” says Stephan Gianoplus, a managing director in Berkeley Point Capital's Bethesda office. “We were able to work with our partners at Fannie Mae to create and close a financing solution that addressed GIDs structural needs.”
GlobeSt.com will follow this story as more information becomes available.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
