HUNTSVILLE, ALA. — Berkadia has arranged $37 million in refinancing for Ascent at Jones Valley, a 431-unit multifamily community located at 1225 Willowbrook Drive SE in Huntsville. Built in 1978, the property features one-, two- and three-bedroom apartments and townhomes ranging in size from 705 to 1,470 square feet. Amenities at the community include two swimming pools, a fitness center, coffee and tea bar, pet park and play area, playground, business center, tennis/pickleball court and grilling and picnic areas.
Charles Foschini, Christopher Apone and Lourdes Carranza-Alvarez of Berkadia South Florida arranged the Fannie Mae financing on behalf of the borrower, Savannah, Ga.-based Wicker Park Capital Management. The loan carries a fixed interest rate, a five-year term and partial interest-only payments.