WASHINGTON D.C. – January 13, 2020 – Berkadia today announced $68.5 million in secured financing for Town Trelago, a recently completed 350-unit garden-style, Class-A multifamily property in Maitland, Florida. Berkadia’s D.C. Metro office secured the acquisition financing for the community on behalf of Virginia-based Kettler. The deal closed on December 12.
The 10-year fixed rate loan was secured through a life company and features half-term interest only payments.
Located at 601 Trelago Way, Town Trelago features studio, one-, two- and three-bedroom floor plans with upgraded granite countertops, large closets, high ceilings, full-size washers and dryers and stainless-steel appliances. Community amenities include a swimming pool, a jacuzzi, a fitness pavilion, a game room, a business center, a clubhouse, assigned parking and an outdoor grilling area. Residents are afforded convenient access to the Shoppes at Trelago, Interstate 4, Lake Hope and the shops and restaurants along North Orlando Avenue.
“Town Trelago stands to benefit from the imminent surrounding development of the Shoppes of Trelago, an estimated 130,000 square foot grocery-anchored suburban lifestyle center,” said J. Tyler Blue of Berkadia. “The Shoppes at Trelago are the next progression of the ‘live-work-play’ environment as other components, such as 150,000 square feet of to-be built office space, a 150-room hotel and an assisted-living community, are in various stages of development here.”
Senior Managing Director J. Tyler Blue, Managing Directors Ted Hermes and Nick Nicholson and Director Jonathan Pratt represented Kettler in the transaction.