Berkadia Secures $366.1M in Financing for a 13-Property Credit Facility
Miami, Florida – October 1, 2026 – Berkadia, a distinguished leader in the commercial real estate sector, announced today the refinancing of the April Housing Florida Portfolio, a 13-property credit facility that includes garden-style communities in Florida. Senior Managing Director Tim Leonhard of Berkadia Affordable Housing platform secured $366.1 million in financing through Fannie Mae on behalf of April Housing, a Blackstone portfolio company. The deal closed on September 9.
“This refinancing provides April Housing with a long-term financing solution that supports the continued operation and preservation of its Florida affordable housing portfolio,” said Leonhard. “Our team worked closely with April Housing and Fannie Mae to structure a credit facility aligned with the sponsor’s objectives and the portfolio’s long-term stability.”
“By financing with a best-in-class credit facility from the Fannie Mae and Berkadia teams, April Housing is able to ensure long-term affordability at these communities. We are grateful for our continued partnership and support from both Fannie Mae and Berkadia,” said Naveen Agrawal, SVP of Capital Markets at April Housing.
The portfolio includes garden-style multifamily housing assets in Miami, Jacksonville, and Tampa. The transaction advances the continued preservation and operation of affordable housing within the portfolio.
April Housing is one of the largest owners and preservers of affordable housing in the U.S. Since 2024, the company has successfully completed the preservation of more than 3,650 affordable homes across the country, including more than 700 in Florida in the last year.
Berkadia Affordable Housing is a fully integrated financial services platform comprised of mortgage banking, investment sales, and tax credit syndication that delivers comprehensive investment solutions to clients across the country and distinguishes itself by pairing deep technical expertise and a wide array of product offerings with the drive and focus necessary to help clients grow their business.