Berkadia, a distinguished leader in the commercial real estate sector, is pleased to announce the sale and financing of Sage Creek Apartments, a 120-unit, garden-style multifamily property located in Augusta, Georgia.
Berkadia Atlanta represented the seller, Jan investor group led by JJM Realty Holdings, LLC, and Berkadia DC Metro secured a $11.375 million Fannie Mae acquisition loan on behalf of the buyer, Blackfin Real Estate Investors, LLC. The full deal team is listed below.
“The seller did a great job of maintaining the asset and setting up the buyer to implement the next phase of renovation,” said Mike Riley. “Sage Creek’s location, year built, and interior scope make for the ideal light value add play. It was a pleasure working with both parties.”
“It was a pleasure to work alongside Blackfin Real Estate Investors on their acquisition of Sage Creek Apartments.” said Patrick McGlohn. “We focused on structuring the financing to support their investment objectives and on providing guidance throughout the process. We appreciate the trust Blackfin placed in us and look forward to seeing Sage Creek’s continued success.”
Comprised of 120 contemporary units, Sage Creek Apartments offers a distinctive rental experience complemented by a robust amenity package. Featuring granite countertops, stainless steel appliances, wood-look flooring, and a suite of community amenities including a swimming pool, fitness center, and clubhouse, Sage Creek caters to discerning renters seeking both comfort and convenience; the property was constructed in 2016.
Senior Managing Directors Andrew Mays and Paul Vetter, Senior Director Mike Riley, and Director Ian Shaw represented the seller. The financing efforts were led by Senior Managing Director Patrick McGlohn, Managing Directors Brian Gould and Ted Hermes, Senior Director Miles Drinkwalter, and Associate Director Natalie Hershey.
