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August 6, 2020 Comments Off on Berkadia Secures $24M Refinancing for South Georgia Workforce Housing Project Views: 635 Atlanta News, Top Atlanta

Berkadia Secures $24M Refinancing for South Georgia Workforce Housing Project

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Berkadia has secured $24 million in financing for the recapitalization of Liberty Club Apartments, a new 240-unit, garden-style apartment community located in Hinesville, GA.

Located at 915 East General Stewart Way, the community was built in 2019 and consists of 9 residential buildings, 11 garage buildings and a clubhouse. Floor plans at the community average 1,153 square feet. Amenities include a resort-style pool, clubhouse, fitness center, dog park and fishing ponds.

Michael Weinberg, Alec Fox and Wesley Moczul of Berkadia’s Orlando office secured the financing on behalf of the borrower, Hillpointe, a fully integrated real estate development and investment management firm focused on workforce housing opportunities. Fannie Mae provided the twelve-year, fixed-rate loan with five-years of interest-only payments. Proceeds will be used to retire the existing construction loan.

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