Berkadia announced the financing of Brantley Pines Apartments, a 296-unit apartment community located in Fort Myers, Florida.
Senior Managing Director Mitch Sinberg, Vice President Michael Basinski, and Managing Directors Brad Williamson and Scott Wadler of Berkadia South Florida secured a $39.9 million acquisition loan on behalf of the buyer, Interface Properties, a nationwide real estate and development firm based in Boca Raton led by Ken Goodman and Zac Goodman. The deal closed on June 28.
Freddie Mac provided the fixed-rate, five-year loan with green environmental benefits.
“This was a well-executed acquisition by Interface identifying opportunity when many investors are on the sidelines,” said Basinski. “Their vertically integrated platform propelled by proprietary technology allows them to drive value at a deeper level than many major institutional firms.”
As part of its strategy to optimize asset performance, Interface Properties will implement its proven in-house management solutions to enhance operational efficiencies and complete a light value-add program.
