Berkadia Secures $31.85M Construction Loan For Vanguard Landing Community In Virginia Beach

The development site located at 2016 Princess Anne Road in Virginia Beach, VA, was the subject of a recent transaction involving a loan amount of $31,850,000. Vanguard Landing, Inc served as the landlord for this property, which secured a construction loan from Virginia Housing Development Authority for the development of a 128-bedroom community.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $31,850,000
• Address: 2016 Princess Anne Road
• Market: Virginia Beach, VA
• Landlord: Vanguard Landing, Inc
• Brokers: John Reed & John Richards - Berkadia
• Loan Type: Construction

Berkadia played a key role in securing the $31.85 million construction/permanent financing for Vanguard Landing, enabling the development of the 128-bedroom community in Virginia Beach. John Reed and John Richards from Berkadia were the brokers involved in this significant transaction.