May 12, 2020 Comments Off on Berkadia Lines Up Nearly $200M in Refi, Acquisition Debt Views: 585 D.C. Metro News, Top Washington, D.C., Washington, D.C. News

Berkadia Lines Up Nearly $200M in Refi, Acquisition Debt

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Berkadia recently completed deals totaling nearly $195 million for five multifamily properties, including four in the Washington, D.C. metro area. A D.C.-based team of Jonathan Pratt, Maggie Burke and Rossana Bouchaya secured $148.2 million in combined financing, and the deals closed on April 30.

The Pratt/Burke/Bouchaya team arranged the following:

• A $50.59-million refinancing of Erkiletian Properties’ The Asher in Alexandria, VA
• $45.25 million to refi Foulger Pratt’s The Bennington in Silver Spring, MD
• A $21.3-million refi of Merrimac Crossing in Williamsburg, VA for Frontier Financial
• $30.96 million to refi Rockworth Companies’ Sundance at Baxter Meadows in Bozeman, MT, with Denver-based Chris Ellis and Monica Newman

“Our team was able to act quickly when treasuries started to fall significantly in early March,” said Pratt.

Pratt and Bouchaya also worked with Richmond, VA-based John Reed on $45.5 million in financing for Insight Property Group’s acquisition of Ravensworth Towers in Annandale, VA.

Pictured: The Asher. Photo courtesy of Erkiletian Properties.

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