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SB Real Estate Partners Secures $23M JV Equity Loan For Glendale Multifamily Venture

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FINANCED

Arizona

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Financed 08/25/2022
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FINANCED

SB Real Estate Partners Secures $23M JV Equity Loan For Glendale Multifamily Venture

6801 W Ocotillo Rd

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Financed 08/25/2022
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Summary

ARIZONA
Transaction Type:Loan

The property asset involved in the transaction is located at 6801 W Ocotillo Rd, Glendale, AZ, and is categorized as a multifamily asset. The loan amount secured for this property is $23,000,000 as structured under a Joint Venture Equity type loan.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $23,000,000
  • Lender: Freddie Mac
  • Landlord: SB Real Estate Partners
  • Broker Representatives: Noam Franklin, Cody Kirkpatrick, and Chinmay Bhatt - Berkadia

Berkadia's JV Equity & Structured Capital team, led by Noam Franklin, Cody Kirkpatrick, and Chinmay Bhatt, has facilitated a partnership with a Texas-based family office, resulting in over $100 million in equity for SB Real Estate Partners’ multifamily expansion. This closing in Glendale is among seven multifamily assets acquired, contributing to a total transaction volume exceeding $350 million across various locations.

Details

FINANCED
IMAGE: Chinmay Bhatt, Noam Franklin & Cody Kirkpatrick DATE: 08/25/2022 ADDRESS: 6801 W Ocotillo Rd MARKET: Glendale, AZ ASSET TYPE: Multifamily LENDER: Freddie Mac LANDLORD: SB Real Estate Partners BROKERS: Noam Franklin, Cody Kirkpatrick & Chinmay Bhatt - Berkadia LOAN AMOUNT: $23,000,000 LOAN TYPE: JV Equity NOTE FROM BROKER: Berkadia's JV Equity & Structured Capital, led by Noam Franklin, Cody Kirkpatrick and Chinmay Bhatt, has arranged a programmatic partnership with a Texas based family office that has now delivered more than $100 million in equity towards SB Real Estate Partners’ multifamily expansion throughout the Southwest over the past 12 months. With the latest closing in Glendale, the partnership has acquired seven multifamily assets with a total transaction volume at more than $350 million including 620 units in Phoenix, 497 units in Las Vegas and 124 units in Redlands, California. Over the past 12 months, Berkadia JV Equity & Structured Capital has successfully sourced the equity on over 60 transactions. Since the team was launched at Berkadia in 2019, they have arranged the equity for over 20,000 multifamily/build-for-rent units and student housing beds across 19 states.

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