Berkeley Point Capital Provides $20M HUD Refinancing in Orlando, FL
September 06, 2017
Bethesda, MD – Berkeley Point Capital recently completed a $20 million refinancing for Sand Lake Pointe Apartments, a 312-unit affordable housing complex in Orlando, Florida. The loan was securitized with Ginnie Mae on a 35-year fully amortizing term.
The Orlando-based owner/operator, and long-term client of Berkeley Point, is well versed in providing best in class affordable housing under the LIHTC program that targets families and seniors at 60% or lower of the area median income. Sand Lake Pointe is a highly attractive project within the client’s portfolio, which holds approximately 10,000 units in the Southeastern United States.
“I am pleased to have had the opportunity to provide great long-term, low cost FHA-insured permanent financing for this affordable project,” said Wiley Prothero, Vice President at Berkeley Point who led the refinancing out of the Atlanta, GA office. “Sand Lake Pointe provides desirable, arguably upscale housing for lower-income families and our loan helps assure its long-term viability.”
Sand Lake Pointe offers affordable housing in a tranquil community setting convenient to schools, shops, restaurants and downtown Orlando. Spaciously designed 2, 3 and 4 bedroom living spaces feature gourmet-style kitchens and large walk-in closets. The complex includes a clubhouse, fitness center, computer lab, swimming pool, playground, and bbq/picnic areas.
for further information contact:
origination: Wiley Prothero, Vice President
404.229.6580 | firstname.lastname@example.org
business: Corey Debnam Cooper, Managing Director
617.722.5057 | Corey.Debnam-Cooper@berkpoint.com
media: Stacey Link, Marketing
617.722.5015 | email@example.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 $58.2 billion representing in excess of 3,300 loans in 49 states. A top five Fannie Mae and Freddie Mac Lender, Berkeley Point offers a full complement of GSE, FHA, Life Company and Conduit products.