Berkadia Obtains $15.8M for Romeoville MF

CHICAGO—Berkadia Commercial Mortgage LLC’s local office has just closed a $15.8 million loan through the US Department of Housing and Urban Development’s 223(f) program for an affordable apartment community in southwest suburban Romeoville. The company’s team, which consisted of Vice President Paul Matusiak and Senior Vice Presidents Len Deering and Tom Sigrist, originated the 35-year, fixed-rate loan for the borrower, Marquette Companies.

The borrower will use the loan to refinance an existing mortgage on a 113,000-square-foot affordable housing complex called Serenity HighPoint Apartments, which sits within the HighPoint Apartments community and is currently 98% occupied. The community features a 27,000-square-foot community center, operated by the Institute for Community. The IFC coordinates after-school day care, learning programs, summer day camps and numerous other activities designed to meet the residents’ needs.