Berkeley Point Provides $59.4M Fannie Mae Loan for Refinancing of Charlotte Apartment Asset

CHARLOTTE, N.C. — Berkeley Point Capital has provided a $59.4 million Fannie Mae loan for the refinancing of Autumn Park Apartments, a 586-unit multifamily community in Charlotte. Mitch Clarfield and Joshua Braceros of Berkeley Point originated the 15-year loan with 10 years of interest-only payments through Fannie Mae’s Green Rewards program. The borrower, Rambleside Real Estate Capital, originally acquired the property in 2012 for $56.3 million. During its ownership, the firm has invested $3.3 million in exterior and common area improvements, as well as unit interior upgrades. Autumn Park Apartments features two swimming pools with a fire pit and poolside cinema, a tennis court, dog park, grilling areas, playground and a fitness center with a yoga studio, spin room and a rowing room.