Berkeley Point Capital Provides $100 Million Credit Facility for Redwood-Kairos Affiliate, Kimpact Fund
August 08, 2017
Irvine, CA – Berkeley Point Capital recently originated a $100 million 5-year adjustable rate Freddie Mac Revolving Credit Facility to the Kimpact Evergreen Real Estate Investment Fund, LP (“The Fund”). The Fund has utilized the facility to accommodate the refinance or acquisition of four properties in Florida and Texas. The facility is expandable to $150 million.
The Fund is an affiliate of Redwood-Kairos Real Estate Partners, an employee-owned, entrepreneurial real estate investment company located in Rancho Santa Margarita, CA. Passionate about advancing social and environmental programs for economic benefit in the multifamily housing market, The Fund commits 20% of conventional units for affordable properties.
“Supporting new, innovative ways to expand high-quality, affordable housing for working Americans is at the heart of our mission, and the Kimpact Fund represents the type of initiative that can help us achieve this goal,” said David Brickman, Freddie Mac Multifamily Executive Vice President. “We are proud to partner with a company that shares our belief that a safe, affordable place to live has an outsized impact on the lives of children and families. We look forward to working with Kimpact and Berkeley Point Capital to bring affordable rental housing—and all the benefits that come along with it—to more families across the country.”
Darrin Stovall, Managing Director at Berkeley Point Capital, led the Facility out of the Irvine, CA office.
“Darrin has done an excellent job in his partnership with the Kimpact Fund,” said Mike May, Executive Managing Director of Berkeley Point. “Darrin saw Kimpact’s unique approach to affordable housing and understood Freddie Mac’s commitment to supporting creative approaches that increase housing for working families. Bringing Kimpact together with Freddie Mac’s credit facilities forges new ground in affordable housing solutions. We’re delighted to have arranged such favorable terms and we look forward to assisting The Fund as they continue in their mission of providing quality housing.”
Celebrating its 30th anniversary year in 2017, Berkeley Point is a top five Freddie Mac and Fannie Mae lender with a servicing portfolio of $58 billion in 48 states. Berkeley Point is one of the largest providers of GSE credit facilities, having originated over $15 billion for public, institutional and private clients.
for further information contact:
business: Corey Debnam Cooper, Managing Director
617.722.5057 | Corey.Debnam-Cooper@berkpoint.com
media: Stacey Link, Marketing
617.722.5015 | firstname.lastname@example.org
about berkeley point capital
Berkeley Point Capital LLC is one of the nation’s leading providers of multifamily capital solutions. The Firm boasts a 30 year history and a servicing portfolio of $58 billion representing in excess of 3,200 loans in 48 states. A top five Fannie Mae and Freddie Mac Lender, Berkeley Point offers a full complement of GSE, FHA, Life Company and Conduit products.