Berkadia Arranges $19.1M Sale, $14.3M Financing for Apartment Asset in Metro Atlanta
DORAVILLE, GA. — Berkadia has arranged the $19.1 million sale of Azalea Ridge, a 281-unit apartment community located at 3214 Valley Bluff Drive in Doraville, roughly 25 miles northeast of downtown Atlanta. Andrew Mays, Paul Vetter, Judy MacManus and Matthew White of Berkadia arranged the sale on behalf of the seller, Alexander Property Group. Berkadia’s Richard Levine originated a $14.3 million Freddie Mac loan on behalf of the buyer, Zavala Capital. The seven-year loan features a floating interest rate, 30-year amortization schedule and a 75 percent loan-to-value ratio. Azalea Ridge offers one- and two-bedroom units and features a pool, community picnic area and a fitness center.