Berkadia Secures $24.4M in Refinancing for Apartments in Savannah, Georgia
SAVANNAH, GA – August 12, 2024 – Berkadia announced today the refinancing of River Walk Savannah, a 220-unit, garden-style multifamily property in Savannah, Georgia. Senior Managing Director Mitch Sinberg, Managing Directors Scott Wadler, Brad Williamson and Matthew Robbins, and Vice President Hugo Hernandez of Berkadia South Florida secured a $24.4 million loan on behalf of the sponsor, Vantage Point Acquisitions (VPACQ), a real estate private equity firm specializing in multifamily communities throughout the Southeast. The deal closed on July 25.
Berkadia originated and Freddie Mac purchased the five-year, fixed-rate loan.
“This refinancing is a testament to the sponsor’s strong track record and ability to steward this asset,” said Robbins. “The Savannah metro is enjoying strong overall economic growth in 2024 across a broad base of commercial, residential, and industrial sectors, further underscoring the long-term demand for housing in the region.”
Located at 101 Saint George Boulevard and built in 1988, River Walk Savannah is just minutes from the historic district, affording residents convenient access to boutiques, upscale dining, and entertainment. Residents can easily access nearby cafes, parks, and public transportation.
The property features 220 one- and two-bedroom apartments with all-electric kitchens, walk-in closets, in-unit washer and dryer, and more. Community amenities include a clubhouse, gated access, pickleball court, pet park, pool, fitness center, and more.
Berkadia Secures $24.4M Refinancing for River Walk Savannah Apartments | YieldPro