News & Insights

Berkeley Point Capital Provides $18.8M Refinancing in St. Louis, MO

May 03, 2017

Bethesda, MD – Bethesda, MD – Berkeley Point Capital recently completed a HUD 223(f) refinancing for Rich & Rich Associates, L.P. for its Waterford Downs Apartments property in Creve Coeur, Missouri, a St. Louis metropolitan community. The $18.8M financing closed on April 24th and was securitized with Ginnie Mae with a 35-year term.

The property, built in 1988 but recently renovated, has 208 units and offers resort-style living with amenities including a swimming pool, sauna, pet park, spacious clubhouse and fitness center. The mix of one and two bedroom apartments include vaulted ceilings, wide-plank wood floors, plenty of natural light from the oversized windows and private balconies, all with quick and convenient access to downtown St. Louis.

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 Rich & Rich Associates 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 thirteenth transaction in Missouri in the last sixteen months.

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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. Together with its parent firm, CCRE – a fully integrated commercial real estate finance company, they are the country’s largest non-bank platform.

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