Berkadia announced the refinancing of two garden-style multifamily properties, The Village at San Jose and The Villas at Ortega, both located in Jacksonville, Florida, on behalf of ROI Capital.
Managing Director Brad Williamson of Berkadia Miami and Associate Director Wesley Moczul of Berkadia Orlando, along with Senior Managing Director Mitch Sinberg and Managing Directors Matt Robbins and Scott Wadler, secured the loans on behalf of the sponsor, ROI Capital, a real estate investment firm.
Berkadia secured $19.9 million to refinance the 200-unit The Village at San Jose, and $53 million to refinance the 444-unit The Villas at Ortega.
Berkadia originated, and Freddie Mac purchased, the five-year, fixed-rate loans, through its Green Advantage program. Both loans have a 35-year amortization schedule and partial interest-only.
“Both loan executions represent an accretive refinance that allowed the sponsor to pay off their existing floating-rate bridge loans with Freddie Mac senior loans,” explained Williamson. “This successful refinancing strengthens the foundation for continued growth and stability of both properties, ensuring favorable cash flow and long-term viability for the sponsor’s ongoing business strategy.”
Both pet-friendly properties feature renovated units with stainless steel appliances, ceiling fans, patio or balconies, walk-in closets, washer/dryer hooks, and more. Community amenities include swimming pools, a playground, bark park, exterior gym and covered parking. The properties are located minutes from Downtown Jacksonville’s shopping, dining, and entertainment options.
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.
ROI Capital Group is a national multifamily owner-operator specializing in acquiring, developing, and managing multifamily properties. Our mission is to maximize returns for our investors while providing exceptional living environments for our residents.
