BOSTON, MA – Berkadia announces it has secured financing for the recapitalization of a multifamily portfolio consisting of 11 individual properties totaling 89 units located throughout the Boston metropolitan area. Senior Managing Director Mitch Sinberg and Associate Director Matthew Robbins of Berkadia’s Boca Raton office, and Associate Director Wesley Moczul of Berkadia’s Orlando office, secured a $17.5 million loan via Fannie Mae on behalf the sponsor, BT Holland Real Estate.
The 12-year, fixed-rate loan has a 75 percent LTV ratio.
”This is an assemblage of smaller properties in up-and-coming neighborhoods in the greater Boston metro area that are benefiting from strong rent growth dynamics,” said Robbins. “By compiling these properties into one portfolio the sponsor was able to obtain a cross-collateralized loan with more favorable terms and economics.”
The multifamily properties in the portfolio include:
- 28 Dyer St, Dorchester, MA 02124 (6 Units, 1920 Vintage)
- 30 Browning Ave, Dorchester, MA 02124 (6 Units, 1920 Vintage)
- 31 Browning Ave, Dorchester, MA 02124 (6 Units, 1900 Vintage)
- 35 Browning Ave, Dorchester, MA 02124 (6 Units, 1920 Vintage)
- 38 Stanton St, Dorchester, MA 02124 (6 Units, 1910 Vintage)
- 54 Fuller St, Dorchester, MA 02124 (6 Units, 1988 Vintage)
- 5 Orlando St, Mattapan, MA 02126 (11 Units, 1965 Vintage)
- 14 Orlando St, Mattapan, MA 02126 (6 Units, 1965 Vintage)
- 14-16-18 Msgr Patrick J Lydon Way, Dorchester, MA, 02124 (15 Units, 1910 Vintage)
- 140 Wellington Hill, Mattapan, MA, 02126 (16 Units, 1965 Vintage)
- 17 Greenwich Park, Boston, MA, 02118 (5 Units, 1910 Vintage)
About Berkadia: 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. To learn more about Berkadia, please visit www.berkadia.com