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BERKELEY ARRANGES $20.7M LOAN FOR ACQUISITION OF STONEGATE APARTMENTS

GLENDALE, ILL. — Berkeley Point has closed $20.7 million in acquisition financing for the acquisition of Stonegate Apartments, a 420-unit apartment community in Glendale Heights, a western suburb of Chicago. The seven-year loan includes a fixed interest rate and a 30-year amortization schedule. The borrower will provide an additional $1.2 million to fund property upgrades. The borrower is Stonegate Holdings GH LLC, an entity formed by Chicago-based Rockwell Partners. Adam Randall, managing director, led the Berkeley Point capital team that arranged the Freddie Mac loan and introduced Riverbanc as the preferred equity partner in the deal.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

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