Berkadia announced the refinancing of River Walk Savannah, a 220-unit, garden-style multifamily property in Savannah, Georgia.
Senior Managing Director Mitch Sinberg, Managing Directors Scott Wadler, Brad Williamson and Matthew Robbins, and Vice President Hugo Hernandez of Berkadia South Florida secured a $24.4 million loan on behalf of the sponsor, Vantage Point Acquisitions (VPACQ), a real estate private equity firm specializing in multifamily communities throughout the Southeast. The deal closed on July 25.
Berkadia originated and Freddie Mac purchased the five-year, fixed-rate loan.
“This refinancing is a testament to the sponsor’s strong track record and ability to steward this asset,” said Robbins. “The Savannah metro is enjoying strong overall economic growth in 2024 across a broad base of commercial, residential, and industrial sectors, further underscoring the long-term demand for housing in the region.”
Located at 101 Saint George Boulevard and built in 1988, River Walk Savannah is just minutes from the historic district, affording residents convenient access to boutiques, upscale dining, and entertainment. Residents can easily access nearby cafes, parks, and public transportation.
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.
