Berkadia Secures $82.1M Loan to Refinance Class A Multifamily Asset in Sarasota County, Florida
Sarasota, Florida – May 28, 2026 – Berkadia, a distinguished leader in the commercial real estate sector, announced today that it secured a $82.1 million loan to refinance Render Legacy Trail, a 450-unit Class A garden-style multifamily community located in Nokomis, Florida, in Sarasota County.
Senior Managing Director Patrick McGlohn, Managing Director Brian Gould, Senior Director Hunter Wood, Associate Director Natalie Hershey and Vice President Patrick Cunningham of Berkadia DC Metro arranged the financing on behalf of Crescent Communities and FCP®.
Lender Benefit Street Partners provided the three-year loan with two one-year extension options.
“Render Legacy Trail is a high-quality, newly delivered asset in a highly desirable Sarasota submarket,” said McGlohn. “The strength of the sponsorship, combined with the property’s quality, location, and long-term fundamentals of the Sarasota market, generated strong lender interest and a competitive execution.”
“The Gulf Coast continues to see strong population growth and renter demand, particularly for well-located, amenitized communities like Render Legacy Trail,” added Hershey.
Completed in 2024, Render Legacy Trail is a 450-unit multifamily community situated on approximately 18 acres at 15560 Render Way. The property offers a mix of one-, two-, and three-bedroom floor plans with an average unit size of approximately 934 square feet. Residences are designed with modern finishes and functional layouts, including granite countertops, stainless steel appliances, luxury vinyl plank flooring, in-unit washers and dryers, private patios or balconies, enhanced closet systems, entryway mudrooms with built-in storage, and dedicated home office workspaces in select units.
The community features a robust amenity package, including a resort-style saltwater pool with cabanas, outdoor grilling and dining areas, a resident clubroom with coffee bar, a 24-hour fitness center, coworking spaces, pickleball courts, a pet park, EV charging stations, multiple outdoor social and activity spaces, and direct access to the Legacy Trail, an 18.5-mile recreational path connecting Sarasota and Venice.
Strategically located between Sarasota and downtown Venice, the property offers convenient access to U.S. Route 41, Sarasota-Bradenton International Airport, and major destinations and employment hubs including Downtown Sarasota, Downtown Venice, Sarasota Memorial Health Care System, and Westfield Sarasota Square. The surrounding area is known for its strong demographic profile, coastal lifestyle appeal, and proximity to beaches, parks, and highly rated schools.
Benefit Street Partners Provides $82M Refi for Sarasota County Multifamily | Commercial Observer