August 6, 2020
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.
For comments, questions or concerns, please contact David Cohen