Berkadia announces it has arranged a $36 million bridge loan for the refinancing of Pointe Grand Macon, a 276-unit Class A community in Macon, Georgia. Managing Director Michael Weinberg and Associate Director Wesley Moczul of Berkadia Orlando secured the financing on behalf of Hillpointe, a real estate investment firm based in Winter Park, Florida.
Berkadia provided the two-year, floating rate loan at a competitive interest rate. The financing will provide a return of equity for Hillpointe’s fund and allow for additional flexibility in placing permanent debt or pursuing a sale.
“After successfully closing multiple transactions with Hillpointe, including agency and HUD financing, this particular deal represents another creative solution for the borrower in a shifting capital market,” said Weinberg. “Berkadia remains committed to being a full-service advisor to its clients, adeptly managing their needs in a very challenging environment.”
