Berkadia Arranges $35.2M Refinancing for 394-Unit Apartment Community in Detroit Metro Area
Detroit – June 8, 2025 – Berkadia, a distinguished leader in the commercial real estate sector, announces that it secured a $35.2 million loan to refinance Indian Lake Village Apartments, a 394-unit multifamily community located in Lake Orion, a village located in the northern outskirts of Detroit, Michigan.
Associate Director Wesley Moczul of Berkadia Orlando led the transaction, with support from Senior Managing Director Mitch Sinberg and Managing Directors Scott Wadler, Matt Robbins and Brad Williamson of Berkadia Boca Raton, on behalf of the sponsor, Fenton Management Company of Farmington Hills, Michigan.
Berkadia originated and Freddie Mac purchased the 10-year, fixed-rate loan.
“Indian Lake Village is a well-maintained community with a strong operating history in one of Metro Detroit’s most desirable suburban markets,” said Moczul. “Freddie Mac delivered an attractive long-term execution that allows the sponsor to capitalize on favorable financing terms while continuing to benefit from the property’s strong fundamentals and resident demand.”
Located at 3001 Lake Village Boulevard, Indian Lake Village Apartments is a 394-unit, garden-style apartment community situated on approximately 58 acres in Lake Orion, a highly sought-after suburb of Oakland County. Constructed between 1995 and 1997, the Class B+ property consists of 27 residential buildings featuring a combination of two-story apartment buildings and townhomes. The community offers a mix of one- and two-bedroom residences averaging approximately 1,012 square feet.
Apartment interiors feature private entrances, full-size washers and dryers, air conditioning, patios or balconies, vaulted ceilings in select homes, and fireplaces and walk-in closets in select units.
Community amenities include a clubhouse, fitness center, business center, swimming pool, tennis and volleyball courts, sauna, game room, billiard room, library and conference room, pet play area, and covered parking.
Indian Lake Village Apartments benefits from its location in Oakland County, approximately 35 miles north of Downtown Detroit. The property provides convenient access to M-24 (Lapeer Road), Interstate 75, and major employment centers throughout Auburn Hills, Pontiac, Troy, and the greater Detroit metropolitan area. Residents are also close to leading employers including Stellantis, General Motors, Magna International, and United Wholesale Mortgage, as well as retail and entertainment destinations such as Great Lakes Crossing Outlets, Downtown Lake Orion, and the extensive recreational amenities surrounding Orion Township’s lakes and park systems.