Berkadia announced the financing of Pointe Grand Warner Robins, a newly built, 288-unit multifamily property in Warner Robins, Georgia developed by Hillpointe, an integrated real estate development and investment management firm focused on purpose-built multifamily housing in the Southeastern United States.
Managing Director Michael Weinberg and Associate Director Wesley Moczul of Berkadia Orlando secured the $36.79 million loan on behalf of the sponsor, Hillpointe. The transaction closed on December 11.
Based in Winter Park, Florida, Hillpointe develops workforce multifamily housing assets, primarily in secondary markets throughout the Sunbelt. The firm handles general contracting and materials sourcing and manages the stabilization of assets during the lease-up period and beyond. Hillpointe’s principals have a long and proven track record of real estate development and investment experience in the housing sector and make significant cash investments in each project.
Berkadia’s Proprietary Lending Group provided a two-year, competitive floating-rate loan with extensions and full-term interest only. The financing will provide a return of equity to Hillpointe’s fund and allow for additional flexibility in placing permanent debt or pursuing a sale.
“We are happy to announce another Q4 closing with our partners at Hillpointe,” said Weinberg. “This loan will offer maximum flexibility for our sponsor to navigate the ever-changing capital markets and is yet another representation of both Hillpointe and Berkadia’s dedication to workforce multifamily housing.”
