SAN FRANCISCO-The San Francisco office of Berkadia Commercial Mortgage recently arranged $85 million in financing for two multifamily properties located in San Francisco and Portland, OR.
Managing director Mitch Thurston and VP Andy Ahlers secured both loans through ING Investment Management LLC, the Authorized Agent for ING Life Insurance and Annuity Co.
Thurston and Ahlers also recently closed $70 million in financing for NorthPoint Apartments, located in San Francisco. The borrower, NP Apartments LLC, originally developed the property in 1968 and will use the fixed-rate, 10-year loan to refinance existing debt and pursue renovations on the property. Situated between Fisherman's Wharf and the North Beach neighborhood of San Francisco, the 514-unit property sits on nearly four acres of land. It features studio, one- and two-bedroom layouts, and amenities include a sauna, pool and fitness center.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
