Berkadia Arranges $22M in Equity for Six-Property Multifamily Portfolio in Georgia, Florida
NEW YORK CITY — Berkadia has arranged $22 million in equity for a six-property multifamily portfolio in Georgia and Florida. An undisclosed REIT partnered with the owner of the portfolio, Strategic Holdings. The four properties in Georgia are Belmont Crossing, a 192-unit complex in Smyrna; Sierra Terrace, a 135-unit community in Atlanta; Sierra Village, a 154-unit property in Atlanta; and Georgetown Crossing, a 168-unit asset in Savannah. The two properties in Florida are the 240-unit Park on the Square in Pensacola and the 328-unit The Commons in Jacksonville.
Noam Franklin, Chinmay Bhatt and Cody Kirkpatrick of New York City-based Berkadia arranged the equity partner on behalf of the owner.
Strategic Holdings acquired the properties from 2016 to 2019 and plans to use the funds to target more acquisitions throughout the Southeast.