BERKADIA ORIGINATES $29.3M FOR MULTIFAMILY PROPERTIES

YPSILANTI AND PITTSFIELD TOWNSHIP, MICH. — The Detroit office of Berkadia Commercial Mortgage LLC has originated $29.3 million for two multifamily properties in Ypsilanti and Pittsfield Township, located near Ann Arbor. Ernie Katai, Pete Benedetto and Colin Callaghan, senior vice presidents for Berkadia, worked with borrower McKinley, a commercial real estate investment and management firm, to secure the loans through Berkadia’s FHA/HUD program. The 477-unit Evergreen Pointe Apartments, which is located at 3089 Woodland Hills Drive in Pittsfield Township, received an $18.1 million loan. The 35-year, fixed-rate loan will be used to refinance existing debt on the property. The 228-unit Roundtree Apartments, which is located at 2835 Roundtree Boulevard in Ypsilanti, received an $11.2 million loan. The 35-year loan, which will be used to refinance the property, includes a 2.9 percent fixed interest rate.