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Berkadia Partners with KaBOOM!, Builds Playground for Philadelphia Elementary School: More than 900 children to benefit

5/22/2013
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Berkadia, The Servicer's Servicer, Wins $75 Billion Servicing Assignment

5/10/2013
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Title	Author	Release Date	Headline	Article Text	Subject	Preview Text
Berkadia Commercial Mortgage Hires Loan Originator Don Marshall for Richmond Office	Lonnie Hopper	1/25/2010	Berkadia Commercial Mortgage Hires Loan Originator Don Marshall for Richmond Office	Berkadia Commercial Mortgage LLC (Berkadia) has hired veteran loan originator Don Marshall as a senior vice president in its Richmond, Va., office. Marshall, who reports to Senior Vice President John Reed, has 35 years of experience in commercial real estate finance. "Don repeatedly has been among the leading Freddie Mac loan originators," said Reed. "He has well-established relationships with borrowers and lenders, and we are excited to have him join us at Berkadia." Marshall was with Capmark Finance Inc. for more than 12 years before leaving his position as manager of the Richmond office in May 2009. In December, Berkadia Commercial Mortgage, a joint venture between Berkshire Hathaway Inc. and Leucadia National Corporation acquired the North American loan origination and servicing businesses of Capmark Financial Group Inc. Earlier, Marshall was a senior vice president with Insignia Mortgage & Investment Company and held various management roles with Trammel Crow Commercial and Century Development. Marshall has a bachelor's degree from Southern Methodist University and a master of business administration degree from the University of Oklahoma.	Loan Origination	Berkadia Commercial Mortgage LLC (Berkadia) has hired veteran loan originator Don Marshall as a senior vice president in its Richmond, Va., office.<p> Marshall, who reports to Senior Vice President John Reed, has 35 years of experience in comm
Berkadia Commercial Mortgage Originates $9,550,000 in Financing for Construction of Victory Centre of Galewood	Lonnie Hopper	2/8/2010	Berkadia Commercial Mortgage Originates $9,550,000 in Financing for Construction of Victory Centre of Galewood	Berkadia Commercial Mortgage has originated $9,550,000 in permanent, fixed-rate debt through its FHA program to finance the construction of Victory Centre of Galewood, a seniors' housing community in Chicago. The fully amortizing loan has a 40-year term and an interest rate of 4.47 percent. Additional sources of funding for the project include: • 9 percent Low Income Housing Tax Credits (LIHTC) • City of Chicago Department of Housing HOME loan • AHP Grant from the Federal Home Loan Bank (FHLB) • Illinois Affordable Housing Tax Credit Donation Credit Collectively, all sources of funding provided more than $21 million for the development of the project. Victory Centre of Galewood, a 102-unit, 102-bed Supportive Living Facility, was constructed on approximately 0.526 acres. Rents average $2600 per month. Len Deering, Tom Sigrist and Paul Matusiak of Berkadia's Chicago office originated the loan. The borrower was Galewood SLF Associates, LP. "This loan involved a unique financing structure with an 'Insurance Upon Completion' loan from FHA," said Sigrist. "Berkadia's expertise and our in depth knowledge of FHA programs gained as one of the leading FHA lenders in the national and local markets were an asset in this transaction." According to Deering, "The 4.47 percent fixed rate was one of the lowest we have seen."	Loan Origination	Berkadia Commercial Mortgage has originated $9,550,000 in permanent, fixed-rate debt through its FHA program to finance the construction of Victory Centre of Galewood, a seniors' housing community in Chicago. The fully amortizing loan has a 40
Berkadia Commercial Mortgage Originates $18,664,000 for Altamont Summit Refinance	Lonnie Hopper	2/8/2010	Berkadia Commercial Mortgage Originates $18,664,000 for Altamont Summit Refinance	Berkadia Commercial Mortgage LLC (Berkadia) originated $18,664,000 in permanent, variable-rate debt through its Freddie Mac program to refinance Altamont Summit, a 439-unit multifamily community in Portland, Ore. Mitchell R. Thurston and Andrew J. Ahlers of Berkadia's San Francisco office originated the loan. The borrower is Altamont Summit, LLC, an affiliate of Arcadia Development Co., of San Jose, Calif. Altamont Summit is a hilltop community of luxury, Craftsman-style apartments with panoramic views of downtown Portland. The property was 95 percent occupied at the time of closing. "The borrower wanted to close this refinance on the maturity date of the existing loan," said Thurston. "We seamlessly coordinated with all parties to fund the new loan on the first business day of 2010."	Loan Origination	Berkadia Commercial Mortgage LLC (Berkadia) originated $18,664,000 in permanent, variable-rate debt through its Freddie Mac program to refinance Altamont Summit, a 439-unit multifamily community in Portland, Ore.<p> Mitchell R. Thurston and An
Berkadia Commercial Mortgage Originates Two Loans Totaling $24,095,200 for Market-Rate Multifamily Properties	Lonnie Hopper	2/16/2010	Berkadia Commercial Mortgage Originates Two Loans Totaling $24,095,200 for Market-Rate Multifamily Properties	Berkadia Commercial Mortgage LLC (Berkadia) originated two permanent, fixed-rate loans totaling $24,095,200 for multifamily properties in McHenry, Ill. The 35-year, fully amortizing loans each had an interest rate of 4.63 percent. Westside Crest Apartments was financed for $7,135,200, and Fawn Ridge Apartments was financed for $16,960,000. John Oharenko, Tom Sigrist, Paul Matusiak and Laura Cathlina of Berkadia's Chicago office originated the loans through the company's FHA/HUD program. The borrowers-first-time FHA/HUD borrowers-were Westside Crest Limited Partnership and Fawn Ridge Apartments Limited Partnership. Berkadia acquired the North American loan origination and servicing businesses of Capmark Financial Group Inc. in December 2009. The FHA/HUD loan origination platform has been an industry leader for more than a decade.	Loan Origination	Berkadia Commercial Mortgage LLC (Berkadia) originated two permanent, fixed-rate loans totaling $24,095,200 for multifamily properties in McHenry, Ill. The 35-year, fully amortizing loans each had an interest rate of 4.63 percent. Westside Cre
Berkadia Commercial Mortgage Hires Loan Originator Matthew Case for Los Angeles Office	Lonnie Hopper	2/16/2010	Berkadia Commercial Mortgage Hires Loan Originator Matthew Case for Los Angeles Office	Berkadia Commercial Mortgage has hired Matthew Case, a loan originator with more than 12 years experience, as an assistant vice president in its Los Angeles office. Case reports to Senior Vice President and Branch Manager, Ed Zimbler. "Matthew's considerable experience originating commercial real estate loans with insurance companies will be a significant benefit to Berkadia's commitment to increase loan volume with our correspondent insurance companies in 2010," said Zimbler. Prior to joining Berkadia, Case spent nine years with Amherst Real Estate Capital, where he was responsible for originating commercial mortgages. Earlier, he was a loan production officer with George Elkins Mortgage Banking, where he focused on underwriting, packaging, processing and placing commercial mortgages with insurance company correspondents. Case has a Bachelor of Science degree in business from the University of Oregon. Case, who holds CA Dept of Real Estate License # 01331084, will originate third-party loans through Berkadia Commercial Mortgage Inc., a wholly owned subsidiary of Berkadia Commercial Mortgage LLC.	Loan Origination	Berkadia Commercial Mortgage has hired Matthew Case, a loan originator with more than 12 years experience, as an assistant vice president in its Los Angeles office. Case reports to Senior Vice President and Branch Manager, Ed Zimbler.<p> "Matt
Berkadia Commercial Mortgage Hires Veteran FHA Loan Originator for Dallas Office	Lonnie Hopper	2/19/2010	Berkadia Commercial Mortgage Hires Veteran FHA Loan Originator for Dallas Office	Steve Mentesana, a veteran FHA loan originator, has joined the Dallas FHA origination office of Berkadia Commercial Mortgage as co-branch manager. Mentesana reports to Executive Vice President Karl Reinlein, the head of Berkadia's FHA/HUD loan origination business. Mentesana, with more than 20 years industry experience, joined Berkadia from Encore Enterprises, where he was responsible for multifamily development activities. Prior to joining Encore in 2008, he was an FHA loan originator with Capmark Finance Inc. for more than six years. Berkadia, a privately held company in which Berkshire Hathaway Inc. has a 50 percent ownership interest, acquired Capmark's origination and servicing businesses in December 2009. "We are very happy to have Steve return to our FHA platform," said Reinlein. "His broad experience and solid leadership skills will be invaluable as we focus on expanding our business in the Texas market." Mentesana has a Bachelor of Business Administration degree from Southern Methodist University in Dallas.	Loan Origination	Steve Mentesana, a veteran FHA loan originator, has joined the Dallas FHA origination office of Berkadia Commercial Mortgage as co-branch manager. Mentesana reports to Executive Vice President Karl Reinlein, the head of Berkadia's FHA/HUD loan
Two Loan Originators Join the Expanding Berkadia Commercial Mortgage Team in Texas	Lonnie Hopper	2/23/2010	Two Loan Originators Join the Expanding Berkadia Commercial Mortgage Team in Texas	Loan originators Brant Smith and Andy Hill have joined Berkadia Commercial Mortgage and will be joining Matt Greer in Berkadia's Austin, Texas mortgage banking office. Smith and Hill report to Senior Vice President Mike Bryant, who leads Berkadia's management team in Texas. Smith, along with Bryant and Senior Vice President John Koeijmans, both based in Dallas, also will be responsible for recruiting loan originators for the recently opened Houston mortgage banking office. Smith and Hill joined Berkadia from NorthMarq Capital. Prior to joining NorthMarq in mid-2009, both Smith and Hill spent a number of years as top originators in the Houston office of Capmark Finance Inc. Berkadia, a privately held company in which Berkshire Hathaway Inc. has a 50 percent ownership interest, acquired Capmark's origination and servicing businesses in December 2009. "We are extremely excited that Brant and Andy have returned to our mortgage banking platform," said Bryant. "Their leadership and significant loan origination expertise will be invaluable as we prepare to increase our presence in Texas and throughout the United States." Smith, a senior vice president, joins Bryant and Koeijmans as part of the Texas management team. Bryant said, "We believe that managing our Texas mortgage banking business as a team will enable us to give our diverse lenders, such as insurance companies, Fannie Mae, Freddie Mac, HUD and others, the highest level of service and access to the broadest base of borrowers." Prior to joining Capmark, Smith was a director in the Houston office of Holliday Fenoglio Fowler. He has a Bachelor of Science degree in Economics from Texas A&M University and is active in the Mortgage Bankers Association, the National Multi-Housing Council and the Urban Land Institute. Hill formerly was a commercial lending officer with Sterling Bank and is a graduate of Sterling Bank's Commercial Credit Training Program. He has a Bachelor of Business Administration degree in Finance from Texas A&M University and is active in the Urban Land Institute's Young Leader Program, the Association of Commercial Real Estate Professionals and the National Multi-Housing Council.	Loan Origination	Loan originators Brant Smith and Andy Hill have joined Berkadia Commercial Mortgage and will be joining Matt Greer in Berkadia's Austin, Texas mortgage banking office. Smith and Hill report to Senior Vice President Mike Bryant, who leads Berka
Berkadia Commercial Mortgage Originates $17.5 Million Loan to Refinance Red Lion Plaza	Lonnie Hopper	3/10/2010	Berkadia Commercial Mortgage Originates $17.5 Million Loan to Refinance Red Lion Plaza	Berkadia Commercial Mortgage recently originated $17,500,000 in debt to refinance Red Lion Plaza, a 229,200 square-foot shopping center in Northeast Philadelphia. The interest rate on the non-recourse loan was fixed at 6.25 percent. Rob Lipson of Berkadia's Red Bank, N.J., loan origination office and Jim Badolato of the Philadelphia office sourced the financing through a regional banking relationship. The borrower was RL Shopping Center LP, an entity representing a joint venture between an experienced local developer and a national investor. The refinance allowed the borrower to pay off their maturing acquisition loan and recapture recent capital investments at the center. When purchased by the current ownership in 2006, the asset had two major vacancies. They have since successfully back-filled the empty box spaces and stabilized the center. Red Lion Plaza is now fully occupied with a diverse tenant base, including Best Buy, Staples, American Signature Furniture, and a new Planet Fitness.	Loan Origination	Berkadia Commercial Mortgage recently originated $17,500,000 in debt to refinance Red Lion Plaza, a 229,200 square-foot shopping center in Northeast Philadelphia. The interest rate on the non-recourse loan was fixed at 6.25 percent.<p> Rob Lip
Berkadia Commercial Mortgage Originates $3 Million for Refinance of the Curtis Building	Lonnie Hopper	3/10/2010	Berkadia Commercial Mortgage Originates $3 Million for Refinance of the Curtis Building	Berkadia Commercial Mortgage originated $3,000,000 in fixed-rate, permanent debt to refinance the Curtis Building, a multi-tenanted industrial/office condominium property in Sharon Hill, Pa. The loan has a 10-year term and a 20-year amortization. Senior Vice President Warren Higgins of Berkadia's Philadelphia office originated the loan through Sun Life Assurance Company of Canada. Wilbur C. Henderson is the principal of the borrowing entity, Curtis Park Associates. The 558,000 square-foot building is located on approximately 15 acres at 2000 Elmwood Avenue in the Folcroft East Business Park. Constructed circa 1930 as the headquarters and manufacturing plant for the Curtis Publishing Company, the building was renovated in the mid-1980s for its current multi-tenant occupancy. The borrower has owned the property since 1984. "We originated financing with Sun Life Assurance for this property in 1999," said Higgins. "The borrower is experienced and financially strong, and the property is favorably located in proximity to Center City Philadelphia and the Philadelphia International Airport. When the loan matured, Sun Life Assurance refinanced the debt at competitive terms."	Loan Origination	Berkadia Commercial Mortgage originated $3,000,000 in fixed-rate, permanent debt to refinance the Curtis Building, a multi-tenanted industrial/office condominium property in Sharon Hill, Pa. The loan has a 10-year term and a 20-year amortizati
Berkadia Commercial Mortgage Hires Loan Originator Mike Landon as Senior Vice President	Lonnie Hopper	4/7/2010	Berkadia Commercial Mortgage Hires Loan Originator Mike Landon as Senior Vice President	Mike Landon has joined the Dallas loan origination office of Berkadia Commercial Mortgage as a senior vice president. He will be an integral part of the Texas mortgage banking team, which is led by Dallas-based Senior Vice President Mike Bryant and includes Senior Vice President John Koeijmans, also in Dallas, and Senior Vice President Brant Smith in Austin. Landon, a highly experienced mortgage banker, previously worked with Grubb and Ellis Capital Markets Group. Earlier, he operated a private enterprise in Dallas and Austin that was an intermediary providing third-party debt and equity capital to commercial real estate clients. "Members of our team have known Mike for many years as an associate, competitor and collaborator on deals. We are excited to be joining forces with him as we continue to grow our platform in the Texas market," said Bryant. "Mike, like recent hires Brant Smith and Andy Hill, has long standing relationships with numerous insurance companies and borrowers across the country." Bryant continued, "Adding a seasoned professional like Mike will help us meet the increasing capital demands of our broad base of clients. With more capital becoming available from the insurance company sector, GSEs and other lenders, we are seeing a welcome uptick in activity after the lull in commercial assignments over the past two years." Landon has a Bachelor of Business Administration degree in Finance from The University of Texas at Austin.	Loan Origination	Mike Landon has joined the Dallas loan origination office of Berkadia Commercial Mortgage as a senior vice president. He will be an integral part of the Texas mortgage banking team, which is led by Dallas-based Senior Vice President Mike Bryan
Berkadia Commercial Mortgage Originates $17,775,000 for Refinance of Contempo Tempe Manufactured Home Community	Lonnie Hopper	4/7/2010	Berkadia Commercial Mortgage Originates $17,775,000 for Refinance of Contempo Tempe Manufactured Home Community	Berkadia Commercial Mortgage (Berkadia) originated $17.775 million in permanent, fixed-rate debt through its Fannie Mae program for the refinance of Contempo Tempe, a 4.5-star manufactured housing community in Tempe, Ariz. The 75 percent LTV loan features a 10-year term and 30-year amortization. Contempo Tempe is an age-restricted (55+) manufactured housing community. Located in Maricopa County, Contempo is situated on approximately 58.81 acres at 2609 West Southern Avenue in the southeastern portion of the Phoenix metropolitan area. Constructed in 1974, Contempo consists of 454 spaces with 159 single-wide and 295 multi-sectional spaces. Among the property's amenities are a large clubhouse/leasing office, laundry facility, spa, fitness center, swimming pool and shuffleboard courts. The clubhouse features an events/dining hall, activities room, billiards room and a commercial-grade kitchen. The property is 94 percent occupied with an average rent of $453 per month for multi-sectional and $434 per month for single-wide spaces. Senior Vice President Chad Thomas Hagwood of Berkadia's Birmingham, Ala., office originated the transaction. The borrower is an affiliate of Silver King Companies. "My client and I are extremely pleased with the ease at which Chad Hagwood and his staff at Berkadia were able to successfully arrange the recent refinance of Contempo Tempe MHP," said Thomas Houlihan, president of Sterling Financial Mortgage & Investment Inc. "Their professionalism, confidence and personal attention made the process during these challenging times both pleasant and profitable."	Loan Origination	Berkadia Commercial Mortgage (Berkadia) originated $17.775 million in permanent, fixed-rate debt through its Fannie Mae program for the refinance of Contempo Tempe, a 4.5-star manufactured housing community in Tempe, Ariz. The 75 percent LTV l
Berkadia Commercial Mortgage Originates $33,478,000 to Refinance Two Rancho Cucamonga Multifamily Properties	Lonnie Hopper	4/8/2010	Berkadia Commercial Mortgage Originates $33,478,000 to Refinance Two Rancho Cucamonga Multifamily Properties	Berkadia Commercial Mortgage originated a total of $33,478,000 in fixed-rate debt through its Freddie Mac program to refinance two multifamily properties in Rancho Cucamonga, Calif. The financing included $23,827,000 for the 290-unit Madison Park at Alta Loma Apartments and $9,651,000 for the 120-unit Waterstone at Alta Loma Apartments. Mitchell R. Thurston and Andrew Ahlers of Berkadia's San Francisco office originated the loans, which had 10-year terms and 30-year amortizations. The borrower was a joint venture between Pacific Property Company and TRECAP Partners. "We were able to help the borrower recapitalize these two institutional-quality assets for long-term ownership by providing aggressively priced fixed-rate debt with an early rate lock through Freddie Mac's Capital Markets Execution product," said Thurston. The CME product, implemented by Freddie Mac in 2008, offers increased flexibility with pricing based on the options requested and individual loan characteristics.	Loan Origination	Berkadia Commercial Mortgage originated a total of $33,478,000 in fixed-rate debt through its Freddie Mac program to refinance two multifamily properties in Rancho Cucamonga, Calif. The financing included $23,827,000 for the 290-unit Madison Park
Berkadia Commercial Mortgage Originates $16,250,000 in Refinancing for Whitman Plaza	Lonnie Hopper	4/20/2010	Berkadia Commercial Mortgage Originates $16,250,000 in Refinancing for Whitman Plaza	Berkadia Commercial Mortgage (Berkadia) has originated $16,250,000 in fixed-rate debt to refinance Whitman Plaza, a retail center in Philadelphia. The 279,000 square-foot Whitman Plaza is located at the intersection of Oregon Avenue and Randolph Streets. Built by Breslin Realty Development approximately 25 years ago, the neighborhood shopping center is anchored by a Pathmark supermarket and K-Mart. The property has maintained high occupancy levels throughout its history. Fashion Bug, Payless Shoes, Radio Shack and Party City are some of the center's other tenants. Senior Vice President David Fishler of Berkadia's New York City office originated the loan. The lender was Long Island, N.Y.-based Bethpage Federal Credit Union. The borrower, South-Whit Shopping Center Associates, is an affiliate of Breslin Realty Development. "Berkadia has worked on the financing for various Breslin Realty projects over the years," said Fishler. "This financing was complicated by K Mart's impending lease expiration, which required the credit union to structure the loan to address the risks associated with the tenant rollover."	Loan Origination	Berkadia Commercial Mortgage (Berkadia) has originated $16,250,000 in fixed-rate debt to refinance Whitman Plaza, a retail center in Philadelphia.<p> The 279,000 square-foot Whitman Plaza is located at the intersection of Oregon Avenue and Ran
Berkadia Commercial Mortgage Hires Louis Weisman as Branch Manager of New Seattle Loan Origination Office	Lonnie Hopper	4/20/2010	Berkadia Commercial Mortgage Hires Louis Weisman as Branch Manager of New Seattle Loan Origination Office	Berkadia Commercial Mortgage LLC (Berkadia) has hired industry veteran Louis Weisman as senior vice president and branch manager of its recently opened commercial real estate loan origination office in Seattle. Weisman has 25 years experience in acquisition and permanent financing for multifamily and commercial income-producing real estate assets. A 20-year resident of Seattle, Weisman formerly was with Key Bank Real Estate Capital where he was responsible for permanent loan originations in the Washington, Oregon, Utah and Northern California markets. Earlier in his career, Weisman established two other mortgage operations in Seattle-American Property Financing West LLC and American Capital Resources. "Berkadia will focus on meeting the financing needs of multifamily owners and developers in the Seattle market through our Freddie Mac and Fannie Mae DUS® programs and HUD's Multifamily Accelerated Processing (MAP) program," Weisman said. Berkadia also is active as an originator of loans through its correspondent relationships with insurance companies, pension funds and other third-party capital providers.	Loan Origination	Berkadia Commercial Mortgage LLC (Berkadia) has hired industry veteran Louis Weisman as senior vice president and branch manager of its recently opened commercial real estate loan origination office in Seattle.<p> Weisman has 25 years experien
Berkadia Commercial Mortgage Expands Houston Office with New Hires	Lonnie Hopper	5/11/2010	Berkadia Commercial Mortgage Expands Houston Office with New Hires	Berkadia Commercial Mortgage has expanded its Houston, Texas office with the addition of two experienced commercial real estate loan originators, Cutt Abelson and Jonathan Gilfillan. Both are senior vice presidents and report to Senior Vice President Mike Bryant. Prior to joining Berkadia, Abelson and Gilfillan were mortgage bankers with the Houston office of Grandbridge Real Estate Capital LLC having spent seven years with its predecessor, Live Oak Capital. Earlier, Gilfillan spent two years as a financial analyst in the Capital Markets Group of Spaulding & Slye Colliers in Boston and five years as an investment analyst at HFF in Buffalo, N.Y., and Houston. Abelson's experience includes serving as assistant director of investments for the multifamily bond program and land management division of McCord Development in Houston. Earlier, Abelson was an associate/real estate consultant with a national accounting firm where he was responsible for the extensive research and analysis of market data used for the valuation and/or appraisal of commercial properties. "We are very excited that Cutt and Jon will lead Berkadia's Houston office and play a key role in growing our Texas business overall," said Bryant. "They have worked alongside some talented mentors over the years and are looking forward to developing their own team and running the branch office. John Koeijmans, Brant Smith and I welcome them. We are very proud to have them on board."	Loan Origination	Berkadia Commercial Mortgage has expanded its Houston, Texas office with the addition of two experienced commercial real estate loan originators, Cutt Abelson and Jonathan Gilfillan. Both are senior vice presidents and report to Senior Vice Pr
Berkadia Commercial Mortgage Originates $68.4 Million Facility for MeadWestvaco Headquarters at Foundry Park	Lonnie Hopper	3/5/2010	Berkadia Commercial Mortgage Originates $68.4 Million Facility for MeadWestvaco Headquarters at Foundry Park	Berkadia Commercial Mortgage has originated $68,400,000 in permanent, fixed-rate financing for MeadWestvaco's new headquarters at Foundry Park in Richmond, Va. The mortgage has a five-year term and a 15-year amortization. As the build-to-suit corporate headquarters of MeadWestvaco Corporation, the 13-story, class "A" office building is 100 percent occupied. The 311,000 square-foot building is located on 3.16 acres along the James River adjacent to the Fifth District Federal Reserve Bank in Richmond's financial district. Senior Vice President Geoff McVeigh of Berkadia's Richmond, Va., office originated the loan, which was funded by Deutsche PostBank AG through PB Capital Corp. NewMarket Corporation is the principal of the borrowing entity, Foundry Park I, LLC. According to McVeigh: "The 2009 collapse of the commercial real estate credit markets made marketing this loan request extremely difficult. Although few lenders were in the market, this property's dynamic location, state-of-the-art facility and credit-worthy tenant and borrower captured the attention of PostBank." "Berkadia's extensive marketing was the key to finding a viable lender," said Bruce Hazelgrove of NewMarket Corporation. "This was a difficult assignment, but Berkadia's experienced team persevered and got the results we were looking for."	Loan Origination	Berkadia Commercial Mortgage has originated $68,400,000 in permanent, fixed-rate financing for MeadWestvaco's new headquarters at Foundry Park in Richmond, Va. The mortgage has a five-year term and a 15-year amortization.<p> As the build-to-su
Berkadia Commercial Mortgage Originates $9,500,000 for Refinance of Campus Habitat 7	Lonnie Hopper	5/18/2010	Berkadia Commercial Mortgage Originates $9,500,000 for Refinance of Campus Habitat 7	Berkadia Commercial Mortgage LLC (Berkadia) originated $9,500,000 in permanent, fixed-rate debt through its Freddie Mac program for the refinance of Campus Habitat 7, a student housing complex in Mt. Pleasant, Mich. The 75 percent LTV loan features a 10-year term and 30-year amortization. Campus Habitat 7, situated on approximately eight acres at 806 W. Broomfield, is comprised of eight three-to-four story residential buildings. The property is 99 percent occupied. Senior Vice President Nick Cassino of Berkadia's New York City office originated the loan. The borrower was Campus Habitat 7 LLC. The loan was used to pay off the borrower's existing loan in its entirety. "In a challenging environment where there was a lack of recent sales of comparable properties, Berkadia was able to work with the Freddie Mac Central region to find and use supportable comparable data in markets similar to Mt. Pleasant," Cassino said.	Loan Origination	Berkadia Commercial Mortgage LLC (Berkadia) originated $9,500,000 in permanent, fixed-rate debt through its Freddie Mac program for the refinance of Campus Habitat 7, a student housing complex in Mt. Pleasant, Mich. The 75 percent LTV loan fea
Berkadia Commercial Mortgage Originates $40,671,300 for Acquisition and Conversion of The Hotel John Marshall	Lonnie Hopper	5/18/2010	Berkadia Commercial Mortgage Originates $40,671,300 for Acquisition and Conversion of The Hotel John Marshall	Berkadia Commercial Mortgage (Berkadia) originated $40,671,300 in financing through its HUD/FHA program for the acquisition and reconstruction of The Hotel John Marshall, a historic Richmond, Va., landmark. The property, which originally opened in 1929 and for decades was among Richmond's most prestigious hotels, will be converted to apartments and retail space known as Residences at The John Marshall. The project, insured through HUD's Section 220 Urban Renewal Program, was the first master-lease, historic tax-credit transaction in the state of Virginia to be financed through HUD and the first completed with the Richmond HUD field office. The loan features a fixed rate of 5.05 percent. The 40-year, fully amortizing loan term will commence at the conclusion of the 20-month, interest-only construction period. Located on approximately an acre at 101 N. 5th Street, the 308,417-square-foot Residences at The John Marshall will consist of 238 apartments and approximately 31,000 square feet of retail space. An additional 23,000 square feet, including the Virginia Room, a historic ballroom that will be restored to its former grandeur, will be used for catering and events. Senior Vice Presidents David Blake and John M. R. Reed of Berkadia's Richmond, Va., office originated the loan. The principals of the borrowing entity, John Marshall Building LLC, were Dominion Realty Partners LLC and Virginia Atlantic Development LLC. "Berkadia is proud to be associated with The Hotel John Marshall project," said Blake. "The project was challenging because of the size of the transaction and the master lease tenant structure associated with the historic tax credits." "Berkadia was pleased to partner with Dominion Realty Partners LLC and play a role in the restoration of this historic property," Reed said. "The renovation and conversion to apartments with ancillary retail and banquet space will contribute immensely to the continued revitalization of this area of downtown Richmond."	Loan Origination	Berkadia Commercial Mortgage (Berkadia) originated $40,671,300 in financing through its HUD/FHA program for the acquisition and reconstruction of The Hotel John Marshall, a historic Richmond, Va., landmark. The property, which originally opene
Berkadia Commercial Mortgage Originates $100 Million in Construction Financing for New Elizabeth Seton Pediatric Center in Yonkers	Lonnie Hopper	5/18/2010	Berkadia Commercial Mortgage Originates $100 Million in Construction Financing for New Elizabeth Seton Pediatric Center in Yonkers	Berkadia Commercial Mortgage (Berkadia) has originated $100,000,000 in fixed-rate financing through its HUD/FHA program for the construction of the new $125,000,000 Elizabeth Seton Pediatric Center in Yonkers, N.Y. The interest rate on the loan-the largest HUD 232-insured loan ever closed-is 5.22 percent, and the 30-year term and 30-year amortization will commence upon the completion of construction. Payments on the loan are interest-only during the construction period. The four-story, 137-bed pediatric residential nursing facility and affiliated school will be constructed on a 6.5 acre site in South Westchester Executive Park in Yonkers. The 2012 expiration of the lease on its current location spurred the Pediatric Center's decision to move from Manhattan's Chelsea neighborhood, where it was established in 1987 by their sponsor, the Sisters of Charity of New York. The 165,000-square-foot center, scheduled to open in 2012, will house medical, nursing, rehabilitative, palliative care, educational and home-care services for medically fragile children from birth through age 21. Senior Vice President and Branch Manager Bradley Grainger of Berkadia's Syracuse, N.Y. office originated the loan. The borrower was the Elizabeth Seton Pediatric Center. "Nursing centers that provide this type of pediatric medical care and educational services are rare," said Grainger, a specialist in healthcare property finance. "The size of the transaction and the complex nature of the facility itself made for some challenges, but we had complete confidence in the borrower." "The new Pediatric Center will be a very special home that provides an extraordinary level of care for each of our 137 children as well as for their families and those who care for the children every day," stated CEO Patricia Tursi. "We are grateful to every member of the project team who worked so diligently to put children at the heart of every decision."	Loan Origination	Berkadia Commercial Mortgage (Berkadia) has originated $100,000,000 in fixed-rate financing through its HUD/FHA program for the construction of the new $125,000,000 Elizabeth Seton Pediatric Center in Yonkers, N.Y. The interest rate on the loa
Berkadia's Seniors Housing & Healthcare Group Originates $44,570,000 for Acquisition of Five Seniors Housing Communities	Lonnie Hopper	5/20/2010	Berkadia's Seniors Housing & Healthcare Group Originates $44,570,000 for Acquisition of Five Seniors Housing Communities	Berkadia Commercial Mortgage's newly formed Seniors Housing & Healthcare Group has originated $44,570,000 in fixed-rate debt through the company's Freddie Mac program for the acquisition of a five-property pool of seniors housing communities. Berkadia's eight-member Seniors Housing and Healthcare Group includes experienced loan originators Monique Bimler, Philip Brooks and Lisa Lautner, and is managed by industry veteran Bill Kauffman. Collectively, the four have originated $12 billion of debt to seniors housing and healthcare properties, 25 percent of which has been Agency business. The loan, arranged by Kauffman and Bimler, has a 10-year term and a 30-year amortization. The borrowers are subsidiaries of Brookdale Senior Living Inc., which purchased the properties in late 2009 as part of an 18-property acquisition from affiliates of Sunrise Senior Living, Inc. The properties, located in Santa Rosa, Calif.; Wilton, Conn.; Carmel, Indiana; Englewood, Ohio; and Finneytown, Ohio, are owned and operated by subsidiaries of Brookdale. The five communities comprise 358 units, of which 107 are dedicated to Alzheimer's and dementia care. "We worked closely with Freddie Mac underwriters to recognize improvements to property cash flow due to Brookdale's management of the properties," said Kauffman. Commenting on the formation of the new group, Berkadia's president and CEO Michael I. Lipson, said, " Seniors housing is a specialized asset class that is best served by a dedicated origination team. Our seniors housing mortgage bankers have demonstrated an outstanding track record for providing loans to the industry." "Our team is very excited to be working together," said Kauffman. "In addition to expanding our relationships with borrowers, Fannie Mae and Freddie Mac, we expect to increase Berkadia's presence as a HUD LEAN originator through a closer relationship with Berkadia's HUD division." Berkadia's HUD platform, under the direction of Executive Vice President Karl Reinlein, has consistently ranked at or near the top of annual HUD healthcare loan originators for the past decade.	Loan Origination	Berkadia Commercial Mortgage's newly formed Seniors Housing & Healthcare Group has originated $44,570,000 in fixed-rate debt through the company's Freddie Mac program for the acquisition of a five-property pool of seniors housing communities.
Berkadia Commercial Mortgage Originates $88,458,000 for Refinance and Recapitalization of Section 8 Multifamily Housing in Staten Island	Lonnie Hopper	6/1/2010	Berkadia Commercial Mortgage Originates $88,458,000 for Refinance and Recapitalization of Section 8 Multifamily Housing in Staten Island	Berkadia Commercial Mortgage originated $88,458,000 in fixed-rate financing through its Freddie Mac program for the refinance and recapitalization a Parkhill Apartments, a project-based Section 8 apartment complex in Staten Island, N.Y. The 10-year loan has a 30-year amortization schedule. The flexible financing structure permitted a subordinate HUD second mortgage and included earn-out provisions. Situated on 21 acres at 140-280 Parkhill Avenue, the 1.1 million square-foot complex consists of eight, six-story buildings with a total of 1121 units. The property was 98 percent occupied at the time of closing. Average rents are $1200 a month. Senior Vice President John M. DiCrocco of Berkadia's New York City office originated the loan. The borrowers, Poonam Apartments LLC, Kimso Apartments LLC and 185-225 Park Hill LLC, are affiliates of Delshah Capital. "This transaction was complicated by a heavily negotiated second mortgage subordination and changes to the properties' HUD regulatory agreements," said DiCrocco. "Berkadia's team worked closely with all parties to help manage the process and meet the expectations of the borrower, Freddie Mac and HUD."	Loan Origination	Berkadia Commercial Mortgage originated $88,458,000 in fixed-rate financing through its Freddie Mac program for the refinance and recapitalization a Parkhill Apartments, a project-based Section 8 apartment complex in Staten Island, N.Y. The 10
Berkadia Commercial Mortgage Originates a Total of $37,110,000 in Financing for Assisted Living Property Portfolio	Lonnie Hopper	6/7/2010	Berkadia Commercial Mortgage Originates a Total of $37,110,000 in Financing for Assisted Living Property Portfolio	Berkadia Commercial Mortgage originated a total of $37,110,000 in fixed-rate, permanent debt through its Freddie Mac program to refinance a portfolio of five assisted living properties. Payments on the 10-year loans are interest-only for the first year and based on a 30-year amortization thereafter. The properties, located in Williamsburg, Va., and Raleigh, Durham, Apex and Albemarle, N.C., were built between 1999 and 2006 and have a total of 246 independent living units. At the time of closing the properties averaged 95 percent occupancy. Senior Vice Presidents John M.R. Reed and David Blake of Berkadia's Richmond, Va., office originated the loans. The borrowers were affiliates of HHHunt Corporation, a diversified real estate organization that develops, owns and manages apartments, seniors housing and single-family housing in the Southeast. "HHHunt is a long-standing, valued client of Berkadia's," said Reed, manager of Berkadia's Richmond office. "These loans, which refinanced existing HUD financing originated by Berkadia, enabled the borrower to pull out significant equity to be redeployed into additional development deals."	Loan Origination	Berkadia Commercial Mortgage originated a total of $37,110,000 in fixed-rate, permanent debt through its Freddie Mac program to refinance a portfolio of five assisted living properties. Payments on the 10-year loans are interest-only for the f
Mike Bryant of Berkadia Commercial Mortgage to Serve on Freddie Mac Advisory Council	Lonnie Hopper	6/10/2010	Mike Bryant of Berkadia Commercial Mortgage to Serve on Freddie Mac Advisory Council	Senior Vice President/Branch Manager Mike Bryant of the Dallas office of Berkadia Commercial Mortgage will join the Freddie Mac Program Plus Advisory Council for a two-year term effective June 10, 2010. The advisory council members work as advisors to Freddie Mac on market issues, programs and process issues. Bryant, a Dallas native with 30 years of real estate experience, has originated more than $1 billion in commercial real estate loans over the past six years. A specialist in multifamily real estate finance, Bryant is a top originator of loans through Berkadia's Freddie Mac and Fannie Mae programs. "With his extensive multifamily finance experience, Mike will be a great addition to the advisory council," said Berkadia Executive Vice President John Cannon, who twice has served as co-chair of the council. "Freddie Mac is delighted to have Mike as a member of its Program Plus Advisory Council," said Freddie Mac Multifamily Vice President Mike McRoberts. "Mike's vast understanding of the multifamily business and market conditions will be a great asset to the council." Bryant said, "It's an honor to be selected and I look forward to serving as a member of the council."	Loan Origination	Senior Vice President/Branch Manager Mike Bryant of the Dallas office of Berkadia Commercial Mortgage will join the Freddie Mac Program Plus Advisory Council for a two-year term effective June 10, 2010.</p> The advisory council members work as
Berkadia Commercial Mortgage Assists The Swig Company in Refinancing Downtown San Francisco Office Building With New $21 Million Loan	Lonnie Hopper	6/15/2010	Berkadia Commercial Mortgage Assists The Swig Company in Refinancing Downtown San Francisco Office Building With New $21 Million Loan	The Swig Company, LLC completed a $21 million refinancing arranged by Berkadia Commercial Mortgage Inc. (Berkadia) of 633 Folsom Street, a downtown San Francisco office building owned by The Swig Company. The 171,000 square foot building is fully leased to California Pacific Medical Center (CPMC) a wholly owned subsidiary of Sutter Health, on a long-term lease. The loan features a 10-year term and 30-year amortization. Mitchell R. Thurston and Andrew J. Ahlers of Berkadia's San Francisco office originated the transaction. Great American Life Insurance Co. was the lender. The borrowing entities were affiliates of The Swig Company, LLC. "Berkadia was offered the exclusive opportunity to arrange financing for this quality single-tenant office building," Thurston said. "We utilized our extensive lender relationships to successfully structure and deliver a competitively priced, long-term fixed-rate loan." "We are really pleased with the excellent execution of this refinancing arranged for us by Berkadia," said Tomas Schoenberg, Senior Vice President of The Swig Company. "In a challenging lending environment we were nevertheless able to replace a maturing 10-year mortgage with a new 10-year mortgage from Great American Life Insurance at a reduced interest rate."	Loan Origination	The Swig Company, LLC completed a $21 million refinancing arranged by Berkadia Commercial Mortgage Inc. (Berkadia) of 633 Folsom Street, a downtown San Francisco office building owned by The Swig Company. The 171,000 square foot building is fu
Berkadia Commercial Mortgage Originates $117 Million in Financing for Pool of 19 Seniors Housing Communities	Lonnie Hopper	6/28/2010	Berkadia Commercial Mortgage Originates $117 Million in Financing for Pool of 19 Seniors Housing Communities	Berkadia Commercial Mortgage originated $117 million in fixed-rate, permanent financing through its Fannie Mae DUS program for a pool of 19 seniors housing communities owned and operated by subsidiaries of Brookdale Senior Living Inc. The 10-year loan, structured as a credit facility with the option to increase the debt, has an interest rate of 5.98 percent and a 30-year amortization. Brookdale used the new loan to refinance mortgage debt scheduled to mature in 2011. The 1,391-unit portfolio comprises communities located in Alabama, Florida, Georgia, Indiana, New Jersey and Tennessee that provide residents with a mix of independent living, assisted living and memory-care services. The loan was originated by Bill Kauffman and Monique Bimler, senior vice presidents in Berkadia's Seniors Housing & Healthcare Finance Group. The group specializes in financing seniors housing communities using a variety of lending programs. "We appreciate the efforts that Berkadia and Fannie Mae made to structure a loan to fit our needs," said George Hicks, Brookdale's executive vice president - finance. "The loan is especially attractive in that it allows us to apply for supplemental financing on the existing asset base, it allows us to apply for additional debt by adding new assets, and it also allows us to make asset substitutions." "It was a pleasure to work closely with Brookdale and Berkadia again," commented Christopher Honn, director of the Seniors Housing Group at Fannie Mae. "We appreciate Brookdale's business and the opportunity to demonstrate our commitment to the seniors housing industry."	Loan Origination	Berkadia Commercial Mortgage originated $117 million in fixed-rate, permanent financing through its Fannie Mae DUS program for a pool of 19 seniors housing communities owned and operated by subsidiaries of Brookdale Senior Living Inc. The 10-y
Berkadia Commercial Mortgage Originates $73,200,000 in Financing for Colonial Properties TRUST Portfolio	Lonnie Hopper	7/7/2010	Berkadia Commercial Mortgage Originates $73,200,000 in Financing for Colonial Properties TRUST Portfolio	Berkadia Commercial Mortgage (Berkadia) originated a total of $73,200,000 in fixed-rate, first-mortgage financing through its Fannie Mae DUS program for the refinance of three multifamily properties owned by Birmingham, Ala.-based Colonial Properties Trust. The 70 percent LTV loans have 10-year terms with 24 months of interest-only payments followed by 30-year amortization schedules. The note rate is 5.016 percent for the term of the loans. Berkadia locked the interested rate in less than 24 hours after application and the transaction closed in 40 days. Colonial Grand at Bellevue ($22,400,000 loan amount) is a 349-unit, Class-A garden apartment community located at 2828 Old Hickory Boulevard in Nashville, Tenn. The property, which is in Davidson County approximately 10 miles southwest of the central business district, was constructed in 1996. The apartment community was 98 percent occupied with an average rent of $846 per month, as of March 31, 2010. Colonial Village at Twin Lakes ($25,400,000 loan amount) is a 460-unit, Class-A garden apartment community located at 11500 Myrtlewood Drive in Sanford, Fla. The property, which is in Seminole County, was constructed in 2004 and is approximately 20 miles north of the Orlando central business district adjacent to two main roadways. The property was 97 percent occupied with an average rent of $770 per month, as of March 31, 2010. Colonial Grand at Valley Ranch ($25,400,000 loan amount) is a 396-unit Class-A garden apartment community located on at 8001 North MacArthur Boulevard in Irving, Texas. The property, constructed in 1995, is located in Dallas County approximately 13 miles northwest of the Dallas central business district. The property was 98 percent occupied with an average rent of $977 per month, as of March 31, 2010. Senior Vice President and Regional Manager Chad Thomas Hagwood of Berkadia's Birmingham, Ala., office and Vice President Jon Smalley of Berkadia's Atlanta office originated and structured the transaction. The borrower was Colonial Properties Trust. "We were pleased with the execution of this financing," stated C. Reynolds Thompson, Colonial Properties Trust's president and chief financial officer. "This long-term, fixed- rate financing further enhances Colonial Properties Trust's strong liquidity position and shows that Berkadia and Fannie Mae remain a source of attractive financing for the multifamily market."	Loan Origination	Berkadia Commercial Mortgage (Berkadia) originated a total of $73,200,000 in fixed-rate, first-mortgage financing through its Fannie Mae DUS program for the refinance of three multifamily properties owned by Birmingham, Ala.-based Colonial Pro
Berkadia Commercial Mortgage Originates $10,600,000 in Financing for Summerchase at Riverchase Apartments	Lonnie Hopper	8/2/2010	Berkadia Commercial Mortgage Originates $10,600,000 in Financing for Summerchase at Riverchase Apartments	Berkadia Commercial Mortgage (Berkadia) originated $10,600,000 in permanent, fixed-rate first mortgage financing through the Freddie Mac Capital Markets Execution (CME) program for Summerchase at Riverchase Apartments. The property is owned by an affiliate of Birmingham, Ala.-based Engel Realty Company, Inc. The 75 percent LTV loan, which refinanced an existing Freddie Mac loan, has a 10-year term and a 30-year amortization schedule. The all-in interest rate was 4.96 percent for the term of the loan. Summerchase at Riverchase, located at 100 Summerchase Drive, is a 240-unit, Class-A garden apartment community in southeast metropolitan Birmingham approximately 10 miles from the central business district. The property, constructed in 1989, consists of 17, two- and three-story buildings. Amenities include a leasing office/clubhouse, swimming pool, fitness center, tennis courts and washer/dryer connections in each unit. The property is 94 percent occupied with an average rent of $744 per month. Senior Vice President and Regional Manager Chad Thomas Hagwood of Berkadia's Birmingham, Ala., office originated and structured the transaction.	Loan Origination	Berkadia Commercial Mortgage (Berkadia) originated $10,600,000 in permanent, fixed-rate first mortgage financing through the Freddie Mac Capital Markets Execution (CME) program for Summerchase at Riverchase Apartments. The property is owned by
Hugh Frater Appointed Chief Executive Officer of Berkadia Commercial Mortgage LLC	Lonnie Hopper	8/9/2010	Hugh Frater Appointed Chief Executive Officer of Berkadia Commercial Mortgage LLC	Berkadia Commercial Mortgage LLC (Berkadia) today announced the appointment of Hugh R. Frater as chief executive officer of the company, effective Thursday, August 12, 2010. Frater succeeds Michael I. Lipson, who is leaving the organization. Berkadia is a highly rated master, primary and special loan servicer and a top-tier commercial real estate loan originator. Berkadia acquired the North American commercial real estate loan origination and servicing businesses of Capmark Financial Group Inc. in December 2009. Headquartered in Horsham, Pa., Berkadia's loan origination and servicing platforms have been major industry participants for more than 15 years. Frater joins Berkadia from Good Energies, Inc., a multibillion euro, global, private investor in renewable energy where he was chief operating officer, managing director and senior advisor. Prior to joining Good Energies Inc., Frater was executive vice president at PNC Financial Services, Inc., where he led the real estate division. He also served as chief executive officer of Midland Loan Services, PNC's loan servicing and software development subsidiary. Prior to joining PNC, Frater was a founding partner and managing director of BlackRock, Inc., the largest publicly traded investment manager (NYSE:BLK). "I am very excited to join Berkadia. I am looking forward to managing and growing an established industry leader. This is a time of challenge and opportunity in commercial real estate, and I am eager to see how we can capitalize on it," said Frater. Frater has an M.B.A. degree in Finance from the Columbia University School of Business and a bachelor's degree from Dartmouth College.	Loan Origination	Berkadia Commercial Mortgage LLC (Berkadia) today announced the appointment of Hugh R. Frater as chief executive officer of the company, effective Thursday, August 12, 2010. Frater succeeds Michael I. Lipson, who is leaving the organization. <
Berkadia Commercial Mortgage Austin Office Originates a Total of $26 Million in Financing for Three Texas Properties	Lonnie Hopper	8/17/2010	Berkadia Commercial Mortgage Austin Office Originates a Total of $26 Million in Financing for Three Texas Properties	The Austin, Texas office of Berkadia Commercial Mortgage originated a total of $26,153,624 for the acquisition of two multifamily properties in Austin and San Antonio and the construction of a student housing community in Arlington. Vice President Andy Hill originated $10,525,000 for the acquisition of Dove Valley Ranch, a 248-unity multifamily property located in the vicinity of the South Texas Medical Center in San Antonio. Situated on approximately 13 acres, the 196,000-square foot Dove Valley Ranch is on USAA Boulevard across from the USAA corporate headquarters. The property is 96 percent occupied at an average monthly rent of $720. The Freddie Mac Capped ARM loan featured a floating-rate with a current interest rate of 4.10 percent and 30-year amortization. The borrower is Dove Valley Associates, LLC. "Dove Valley Ranch is an attractive option for the thousands of employees at USAA and South Texas Medical Center; and the San Antonio market's resiliency gave the lender added comfort," said Hill. Vice President Matt Greer originated $8,028,624 in financing for the construction of Maverick Village, a 72-unit, 232-bed student housing property on 3.45 acres at the University of Texas - Arlington. The 70-percent LTV floating-rate construction loan provided by a local credit union features a two-year term followed by a three-year mini-perm. The borrower is Campus Village Davis LP, an affiliate of Hammond Jones Development. "The lender's recognition of the demand for student housing at this rapidly growing university combined with the sponsor's significant experience in student housing development made this difficult assignment come to fruition," said Greer. Senior Vice President Brant Smith and Associate Vice President Michael Levell originated $7,600,000 in fixed-rate financing through Berkadia's Freddie Mac CME program for the acquisition of Parkview Place, a multifamily property in Georgetown, Texas. Located on approximately 10 acres, the 176-unit Parkview Place is 98 percent occupied. The 10-year loan has a fixed interest rate of 5.26 percent and a 30-year amortization. The borrower is Parkview Owner LLC. "Recent absorption figures and transactions like Parkview Place are a positive sign that Austin's multifamily market has reached a turning point," said Levell. "As these transactions indicate, the Texas markets are at the forefront of the recovery, and multifamily continues to dominate investors' appetites," concluded Smith.	Loan Origination	The Austin, Texas office of Berkadia Commercial Mortgage originated a total of $26,153,624 for the acquisition of two multifamily properties in Austin and San Antonio and the construction of a student housing community in Arlington.</p> Vice P
Berkadia Commercial Mortgage LLC Originates $17.5 Million for Refinance of Santa Clara Multifamily Property	Lonnie Hopper	9/24/2010	Berkadia Commercial Mortgage LLC Originates $17.5 Million for Refinance of Santa Clara Multifamily Property	Berkadia Commercial Mortgage LLC (Berkadia) originated $17,500,000 in fixed-rated debt through its Freddie Mac program for the refinance of Waterstone Santa Clara, a multifamily property in Santa Clara, Calif. Located on 6.6 acres at 3707 Poinciana Drive, Waterstone Santa Clara comprises 156 garden-style apartments. The property currently operates at 95.5 percent occupancy. Senior Vice President Mitchell Thurston of Berkadia's San Francisco office originated the loan. "Berkadia utilized its strong relationship with Freddie Mac to quickly rate lock and fund this loan," Thurston said.	Loan Origination	Berkadia Commercial Mortgage LLC (Berkadia) originated $17,500,000 in fixed-rated debt through its Freddie Mac program for the refinance of Waterstone Santa Clara, a multifamily property in Santa Clara, Calif.</p> Located on 6.6 acres at 3707

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