Berkadia announced that it secured acquisition financing for Arcadia Decatur, a 101-unit garden-style apartment community located in Decatur, Georgia.
Managing Director Scott Wadler of Berkadia Miami and Managing Director Matt Robbins and Vice President Abigail Beauchamp of Berkadia Boca Raton secured a $13 million loan on behalf of the sponsors, a joint venture between Atlantic Pacific Companies and Highline Real Estate Capital.
Berkadia originated and Freddie Mac purchased the five-year, fixed-rate loan with full-term interest only.
“Arcadia Decatur is a newer property being bought below replacement cost at a healthy cap rate,” explained Wadler. “Our team was excited to be able to help AP and Highline secure a strong, accretive fixed-rate loan for the apartment community and help the joint venture expand its presence in the Southeast.”
Located at 220 North Arcadia Avenue and built in 2020, Arcadia Decatur is a three-story garden-style boutique apartment community located just outside of the historic downtown of Decatur. It features one- and two-bedroom floor plans with an in-unit washer and dryer, energy-efficient stainless-steel appliances, walk-in closets, and more. Community amenities include a fitness center, outdoor grilling, pool and sundeck, and more.
Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets.
