Berkadia Arranges $118.5M Loan For Lincoln Avenue's Orlando Multifamily Development

The property at 3225 West Colonial Drive in Orlando is a 300-unit multifamily asset known as 52 at Park. The financing for this development was facilitated by Berkadia, with a total loan amount of $118.5 million. This financing includes a $73.5 million construction loan and $45 million in Low-Income Housing Tax Credit (LIHTC) equity. The affordable housing project will feature one- to four-bedroom units reserved for households earning 60 percent of the area median income (AMI), alongside amenities like a business center, fitness center, and pool.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $118,500,000
• Landlord: Jeremy Bronfman - Lincoln Avenue Communities
• Brokers: Chris McGraw & Tim Leonhard - Berkadia

The individuals and companies involved in this transaction include Jeremy Bronfman from Lincoln Avenue Communities serving as the landlord. The brokers who arranged the financing are Chris McGraw and Tim Leonhard from Berkadia. The loan secured for 52 at Park in Orlando consists of a construction loan and Low-Income Housing Tax Credit equity, demonstrating a commitment to affordable housing development in the area.