Berkeley Point Capital Provides $3.5M Fannie Mae Affordable Workforce Rental Housing Financing
July 20, 2016
Bethesda, MD – Berkeley Point Capital recently closed a $3.5 million refinance loan for the Affordable Workforce Rental Housing community, Cherry Park Apartments, located in Grand Island, NE. The Fannie Mae loan closed on June 22 with 75% LTV and a 10-year term.
Located approximately 100 miles from Lincoln, NE, Cherry Park Apartments is a garden-style community comprised of 124 units and one, 2,700 square foot commercial space set within 20 buildings. The units are a mix of two and three bedroom apartments constructed in two phases between 1997 and 1999. 120 of the units are rent restricted.
“It’s rewarding to facilitate local apartment owners’ efforts to maintain Affordable Housing in their markets. Cherry Park is upholding Fannie Mae’s mission of providing financing Affordable Workforce Rental Housing to all markets across the country through its mark in Grand Island, NE,” said Cheryl Higley, Director of Berkeley Point Capital’s Affordable Housing program in Dallas, TX.
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 29+ year history and a servicing portfolio of $52 billion representing in excess of 2,900 loans in 47 states and the District of Columbia. As part of our multifamily, seniors housing and healthcare expertise, Berkeley Point offers the full complement of Fannie Mae, Freddie Mac, FHA, Life Company and Conduit products, as well as a proprietary bridge program. The Firm has a team of 300+ professionals nationwide. This extensive and diverse national platform allows us to provide our clients with superior execution in every market across the country.