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ALBANY, N.Y. — Berkadia has arranged a $5.2 million bridge loan for Albany Apartments. The undisclosed borrower will use the proceeds to acquire and convert the building, which was originally constructed as a townhouse-style hotel, into a 112-unit multifamily community with studio, one- and two-bedroom floor plans. John Sigeti of Berkadia arranged the nonrecourse, interest-only loan, which was structured with a 24-month term and a 75 percent loan-to-value ratio.