Berkadia announces it has arranged the $17.87 million recapitalization of The Enclave at St. Lucie West, a 91-unit townhome complex in Port St. Lucie, Fla. Senior Managing Director Mitch Sinberg, Managing Director Matt Robbins and Vice President of Originations Abigail Beuchamp of Berkadia Boca Raton secured the financing on behalf of the ownership, Rich Properties, a builder and developer based in Port St. Lucie.
Freddie Mac provided the 10-year loan with five years of interest only.
“Port St. Lucie has demonstrated strong market fundaments that Freddie Mac recognized, and the team acted and delivered quickly despite the volatile rate environment,” said Sinberg
Located at 150 Southwest Hidden Cove Way, The Enclave at St. Lucie West was built in 2007 and offers two- and three-bedroom units ranging from 1,314 to 1,683 square feet. Individual units feature tile floors, vaulted ceilings, granite countertops, stainless steel appliances, a pantry, ceiling fans, high speed internet, in-unit washer and dryers, walk-in closets, a tub and shower, double vanities, a patio and connected garages with remotes. Community amenities feature a pool and clubhouse with Wi-Fi, a fitness center, curbside trash pickup, on-site property management and video patrol.
Situated in Port St. Lucie, it is minutes away from the Florida Turnpike, the beach, St. Lucie Boulevard and 30 minutes away from Florida Atlantic University.