Sauer Properties & Fralin Companies Secure $115 Million Construction Loan For Multifamily Asset In Richmond

The asset involved in this transaction is a multifamily property located at 9746 Midlothian Turnpike in Richmond, VA. The loan amount secured for this property is $115,000,000, which is designated for construction purposes.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $115,000,000
• Lender: HUD
• Landlord: Sauer Properties & Fralin Companies
• Broker: Amy Gay - Berkadia
• Loan Type: Construction

This transaction highlights the involvement of Berkadia's FHA/HUD team, led by Senior Director Amy Gay, who successfully closed over $115 million across five HUD-backed loans in Virginia. These included three refinancings and two construction-permanent deals for multiple multifamily sponsors.