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BERKADIA SECURES $20.3M IN FINANCING FOR APARTMENTS IN AUSTIN

AUSTIN — Berkadia Commercial Mortgage’s Austin office has originated $20.3 million in financing for a multifamily property in Austin. Senior vice president Andy Hill worked with borrower Atlantic Pacific Cos. to arrange the seven-year, fixed-rate loan through Berkadia’s Freddie Mac program. The borrower will use the loan for the refinancing of Atlantic Grand Oaks, a 240-unit unit property 10 miles southwest of downtown Austin. Loan terms include an interest rate below 4 percent and a 30-year amortization schedule. Atlantic Grand Oaks is located at 9323 Manchaca Road in Austin. The complex consists of studio, one-, two- and three-bedroom units. Amenities include a pool, volleyball and basketball courts, playground and fitness center.

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