CHARLESTON, SC – Berkeley Point Capital, together with their Bridge lending partner, Invesco Real Estate, a global real estate investment manager, recently provided $31.5 million acquisition financing for The Heyward, a 260-unit luxury mid-rise apartment community completed in 2018 and located in Charleston, SC. This is the first asset acquired as part of a $250 million dollar acquisition facility for KKR and Carter-Haston.
Berkeley Point's production team, led by Bill Mott in the Firm’s Bethesda office, was able to facilitate the loan for KKR, a leading global investment firm, and Carter-Haston, a private fund management and property management firm focused on the acquisition, management and sale of multifamily communities located in the Southeast, Southwest and Midwest United States.
"It was a pleasure working with such talented teams,” said Mott. “They demonstrated tremendous knowledge of the property and its market, making it easy for us to move quickly and achieve a superior result. Seeing the success of the first asset within the facility, we look forward to what follows."
Charlie Rose, Senior Director, Structured Investments at Invesco comments: “The opportunity to be involved in the financing of this exciting deal is representative of our core lending business through which we back best-in-class owners and operators of real estate with flexible and accretive loan structures. We are delighted to be working alongside Berkeley Point Capital, as well as KKR and Carter-Haston on this project.”
The Heyward offers brand new studio, one, two, and three bedroom homes including genuine hardwood flooring, granite countertops, and ample living space. The pet-friendly community includes walking paths extending throughout their 15 acres, a saltwater pool and a resident clubhouse. Located in the affluent West Ashley sub-market of Charleston, SC, The Heyward offers convenient access to downtown Charleston, paired with the district’s historic charm, ample green spaces, locally run shops, fine dining, breweries, and more.
About Berkeley Point Capital: Berkeley Point Capital is the preeminent source of capital solutions for multifamily owners and operators. With a nationwide presence and unparalleled expertise, Berkeley Point boasts a 30+ year history and a servicing portfolio of $58 billion representing in excess of 3,400 loans in 49 states. A top five Fannie Mae and Freddie Mac Lender in 2017, Berkeley Point offers a full complement of GSE, FHA, Life Company and Conduit products paired with extensive multifamily, affordable, student, seniors housing and healthcare expertise. This extensive and diverse national platform provides clients with superior execution in every market across the country. Berkeley Point is owned by Newmark Group, Inc., which is listed on the NASDAQ Global Select Market under the symbol "NMRK". Newmark Group, Inc. is a publicly traded subsidiary of BGC Partners, Inc. (BGC), a leading global brokerage company servicing the financial and real estate markets. BGC's common stock trades on the NASDAQ Global Select Market under the ticker symbol "BGCP".
About Invesco Ltd. Invesco is an independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. NYSE: IVZ; www.invesco.com.
About Invesco Real Estate: Invesco Real Estate is a global leader in the real estate investment management business with US$64.8 billion in real estate assets under management, 484 employees and 21 regional offices across the U.S., Europe and Asia*. Invesco Real Estate has been actively investing in core, value-add and opportunistic real estate strategies since 1992. Invesco Real Estate is a business name of Invesco Advisers, Inc., an indirect, wholly owned subsidiary of Invesco. Ltd.
*All data is as of 3/31/2018 unless otherwise noted.