HORSHAM, PA – Berkadia Commercial Mortgage LLC (Berkadia) recently originated $28.75 million in financing through Fannie Mae’s DUS platform to support the acquisition of a Class “A” apartment community in North Wales, Pa. Located approximately 30 miles north of downtown Philadelphia, the property includes more than 250 units and a top tier amenity package. 

 

Senior Vice President Jim Badolato led the Berkadia team that secured the 10-year, adjustable-rate loan. The low-leverage loan, which closed at the end of September, featured a sub-2 percent going-in interest rate, payable on an interest-only basis.  

 

“Recently, we've seen a spike in demand for floating rate executions given the volatility with fixed-rate indices,” said Badolato. “Both Fannie Mae and Freddie Mac have ARM programs that offer compelling going-in rates. More importantly, these programs offer the prepayment and conversion flexibility that many of our clients need to execute their business plans.”

 

About Berkadia:

Berkadia Commercial Mortgage LLC, one of the most prominent lenders in the commercial real estate industry, is a highly rated master, primary and special servicer managing a portfolio of more than $240 billion as of June 30, 2013. As a correspondent for insurance companies and other institutional lenders and a leading approved lender for Fannie Mae, Freddie Mac and HUD/FHA, Berkadia offers clients access to capital for the acquisition, construction, rehabilitation or refinance of commercial real estate properties. Through the acquisition of Hendricks & Partners, Berkadia now adds multi-family advisory services and investment sales to its capabilities.

 

To learn more about Berkadia, please visit www.berkadia.com.

 

Media Contact:

 

Meghan Warren

Bliss Integrated Communication

212.584.5469

meghan@blissintegrated.com