Updated Jun 5, 2026
David J. Fravigar Of Berkley Properties Secures $115.6M Freddie Mac Refinance For Multifamily Properties
1 Lighthouse Lane & 1 Maple Tree Lane
$115,600,000
Building Size
—
Asset Type
MultiFamily
Closing
Jun 3, 2026
About this deal
AI
The Cove at Gateway Commons and Sound at Gateway Commons are two multifamily properties located at 1 Lighthouse Lane and 1 Maple Tree Lane in East Lyme, Connecticut. A refinance loan amounting to $115,600,000 has been secured for these properties.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $115,600,000
- Lender: Freddie Mac
- Landlord: David J. Fravigar - Berkley Properties
- Broker: Avi Kozlowski - Newmark
- Loan Type: Refinance
- Loan Terms: 10-year, fixed-rate loan
Newmark facilitated the refinancing process for the aforementioned multifamily properties, highlighting the involvement of David J. Fravigar from Berkley Properties as the landlord, while Avi Kozlowski from Newmark acted as the broker in the transaction.
On the Map
$115,600,000
MultiFamily
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Players
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93