Berkadia Brokers $32.5M Sale of Multifamily Property in Michigan

Hillside Forest includes 252 units.

FARMINGTON HILLS, MICH. — Berkadia has brokered the sale of Hillside Forest, a 252-unit multifamily property in Oakland County’s Farmington Hills. Built in 1986, the community features one- and two-bedroom floor plans. Amenities include a 24-hour fitness center, clubhouse, pool, jogging trail and tennis courts. Kevin Dillon, Jason Krug, Rick Vidrio, Rick Brace, Charley Henneghan, Corey Krug and Carly Dietz of Berkadia represented the seller, Michigan-based Berger Realty Group Inc. Affiliates of Highgate Capital Group, based in Chicago, purchased the asset. Robert Falese of Berkadia originated $26.8 million in acquisition financing on behalf of the borrower. The 10-year Freddie Mac loan features a fixed interest rate of 3.87 percent and a loan-to-value ratio of 80 percent.

Get more news delivered to your inbox. Subscribe to France Media's e-newsletters. Click here.

Related News

Webinars on Demand


Read the Digital Editions

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Ancillary Retail

Student Housing Business

Seniors Housing Business

Featured Properties