Berkadia Secures $15.72 Million Refinance Loan For 123-Unit Multifamily Property In Riviera Beach

The property asset involved in this transaction is a multifamily building located at 1931 West 16th Court in Riviera Beach, which consists of 123 units. The transaction is supported by a loan amount of $15,722,000, issued as a refinance through Berkadia via Freddie Mac. The loan features a five-year fixed rate with a three-year interest-only period and a 30-year amortization schedule.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $15,722,000
• Address: 1931 West 16th Court
• Market: Riviera Beach
• Lender: Berkadia via Freddie Mac
• Landlord: Rental Asset Management (RAM)
• Loan Type: Refinance
• Loan Terms: Five-year, fixed-rate with a three-year interest-only period and a 30-year amortization schedule
• Brokers: Matthew Robbins, Hugo Hernandez, Mitch Sinberg, Brad Williamson, & Scott Wadler - Berkadia

This transaction involves multiple key individuals. The brokerage representation includes Matthew Robbins, Hugo Hernandez, Mitch Sinberg, Brad Williamson, and Scott Wadler, all associated with Berkadia. The landlord, representing the property in this transaction, is Rental Asset Management (RAM), emphasizing their role in managing the asset effectively.