Finance Midwest

Berkadia provides $323 million in refinance funds for multifamily portfolio

Berkadia provides $323 million in refinance funds for multifamily portfolio,ph01

Berkadia arranged a total of $323 million in refinancing for a 13-property multifamily portfolio with 3,881 units throughout the Midwest and Southeast United States.

Senior Managing Director Mitch Sinberg, Associate Director Matt Robbins and Director of Operations Jared Hill of Berkadia’s Boca Raton office arranged the loans on behalf of STAR Real Estate Ventures, a joint venture between El-Ad National Properties and Yellowstone Portfolio Trust.

Berkadia originated a seven-year, fixed rate loan for each property with a highly competitive spread.

Properties in the Midwest include Avalon at Northbrook, a 256-unit community in Fort Wayne, Indiana, and Windsor Lakes, a 762-unit community in Woodrige, Illinois.