Berkadia Arranges $75.8M in Financing for Five Apartment Communities in Florida

TAMPA, FLA. — Berkadia has originated five loans totaling $75.8 million for five multifamily communities in Florida. Mitch Sinberg, Michael Wallace and Matthew Robbins of Berkadia’s South Florida office arranged all five loans on behalf of the borrower, Insula Cos., an owner and manager of apartment communities in Florida. The loans included a $23 million refinance loan for The Valencian Apartments in Kissimmee; $19.2 million acquisition loan for Charter Pointe Apartments in Altamonte Springs; $12.6 million refinance loan for Park East Apartments in Tampa; $10.5 million recapitalization loan for St. Moritz Apartments in Tampa; and a $10.5 million recapitalization loan for Miramar in Kissimmee.