News & Insights

Berkeley Point Capital Provides $13.2M Refinancing in Clayton, NC

July 17, 2017

PVA_originalBethesda, MD – Berkeley Point Capital recently completed a HUD 223(f) refinancing for The Rich Group of Companies for its Parkside Village Apartments property in Clayton, North Carolina, located in the Raleigh, North Carolina metropolitan area. The $13.2M financing closed on June 30th and was securitized with Ginnie Mae on a 35-year term.

The property, built in 2001 but recently renovated, has 136 units and offers resort-style living with amenities including a swimming pool, spacious clubhouse and fitness center, a sand volleyball court, a dog park, and garages and carports for the residents. The mix of one and two bedroom apartments include stainless steel appliances, plantation blinds, wood floors, plenty of natural light from the oversized windows and private balconies.

William Tanker, Vice President at Berkeley Point Capital, led the refinancing out of the Bethesda, MD office. William has worked extensively with the principals of The Rich Group of Companies over the last several years to provide them with long-term, low-rate, self-amortizing, non-recourse financing utilizing HUD’s 223(f) refinance program.

This marks Berkeley Point Capital’s fifteenth transaction in North Carolina in the last six months.

 

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 | stacey.link@berkpoint.com

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.

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