Berkadia Secures $14.6M Loan For Charter Hall At The Greens In Salisbury

The Greens at Schumaker Pond is a 168-unit garden-style multifamily property located at 701 College Lane in Salisbury, MD. The property was acquired by property investment management company Charter Hall Ventures for $24.5 million. The acquisition was facilitated by Drew White and Carter Wood of Berkadia, representing the seller, The Benchmark Group. The financing for the acquisition amounted to $14.6 million, secured by Patrick McGlohn, Miles Drinkwalter, and Natalie Revers of Berkadia through a 12-year loan from Fannie Mae.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $24.5 million
• Address: 701 College Ln, Salisbury, MD, 21804
• Market: Salisbury
• Borrower's Rep: Miles Drinkwalter(Berkadia), Natalie Revers(Berkadia), Patrick McGlohn(Berkadia)
• Lender: Fannie Mae
• Loan Amount: $14,600,000.00

Drew White and Carter Wood of Berkadia represented the seller, while Patrick McGlohn, Miles Drinkwalter, and Natalie Revers also of Berkadia secured the financing for Charter Hall Ventures. The Greens at Schumaker Pond offers one-, two-, and three-bedroom floor plans and amenities such as a swimming pool, a fitness center, and a picnic area. Its location near Salisbury University and the retail establishments along Snow Hill Road enhances its appeal to potential residents.