Berkadia Secures $12.66M Freddie Mac Loan To Refinance Mirage Bay Multifamily In Fort Myers

The asset involved in this transaction is Mirage Bay, a 137-unit multifamily community located at 14401 Metro Parkway in Fort Myers, Florida. The property was refinanced with a loan amount of $12,660,000. This financing is structured as a fixed-rate, seven-year loan, which includes four years of interest-only payments.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $12,660,000
• Lender: Freddie Mac
• Landlord: Miles Rich - Rich Properties
• Loan Type: Refinance
• Loan Terms: Fixed-rate, seven-year loan, with four years of interest-only payments
• Brokers: Mitch Sinberg, Scott Wadler, Matt Robbins & Brad Williamson - Berkadia

Berkadia played a key role in securing the refinancing for Mirage Bay on behalf of Rich Properties. This refinancing enhances Rich Properties' position within the Southwest Florida market, ensuring long-term fixed-rate financing for the garden-style apartment community.