Berkadia Secures Loan for Acquisition of apartments in Decatur, Georgia
GREATER DECATUR, GA. – July 23, 2024 – Berkadia announced today that it secured acquisition financing for Arcadia Decatur, a 101-unit garden-style apartment community located in Decatur, Georgia. Managing Director Scott Wadler of Berkadia Miami and Managing Director Matt Robbins and Vice President Abigail Beauchamp of Berkadia Boca Raton secured a $13 million loan on behalf of the sponsors, a joint venture between Atlantic Pacific Companies and Highline Real Estate Capital.
Berkadia originated and Freddie Mac purchased the five-year, fixed-rate loan with full-term interest only.
“Arcadia Decatur is a newer property being bought below replacement cost at a healthy cap rate,” explained Wadler. “Our team was excited to be able to help AP and Highline secure a strong, accretive fixed-rate loan for the apartment community and help the joint venture expand its presence in the Southeast.”
Located at 220 North Arcadia Avenue and built in 2020, Arcadia Decatur is a three-story garden-style boutique apartment community located just outside of the historic downtown of Decatur. It features one- and two-bedroom floor plans with an in-unit washer and dryer, energy-efficient stainless-steel appliances, walk-in closets, and more. Community amenities include a fitness center, outdoor grilling, pool and sundeck, and more.
Conveniently situated between Downtown Decatur and Scottdale, near Interstate 285, connecting residents to three major Interstate Highways: I-75, I-85, and I-20. The property is also within walking distance to unique restaurants, shopping destinations, parks, and a MARTA transit system station.
Financing Secured for Arcadia Decatur Acquisition | What now Atlanta