Berkadia has successfully completed the sale and financing of Gardens of Annapolis, an active adult community situated in the affluent coastal suburb of Annapolis, Maryland. The property consists of 106 units and is conveniently located near downtown Annapolis and the United States Naval Academy.
The transaction was facilitated by Berkadia Seniors Housing & Healthcare, who provided both investment sales and mortgage banking advisory services. Managing Directors Cody Tremper, Dave Fasano, Ross Sanders, and Mike Garbers represented Crow Holdings in closing the sale.
In addition to this successful sale transaction, Managing Directors Austin Sacco and Steve Muth along with Assistant Vice President Alec Rosenfeld secured $17.47 million in acquisition financing through Fannie Mae on behalf of Corten Real Estate and Real Asset Industries – a joint venture buyer for this project. The loan features a seven-year fixed rate with attractive interest rates as well as an interest only period.
Gardens of Annapolis was built in 2002 offering a variety of unit types including 42 one-bedroom/one-bathroom units ,23 two-bedroom/one-bathroom units ,and 41 two-bedroom/two-bathroom units.
Berkadia recently finalized both the sale process for Gardens at Annapolis – an active senior living community located within Maryland’s prestigious coastal suburb – as well as securing $17 million worth acquisition funding via Fannie Mae on behalf Corten Real Estate & Real Asset Industries’ joint venture purchase deal . This upscale property boasts over hundred residential spaces; all strategically positioned close to key landmarks such downtown area or US Naval Academy .
The entire operation was overseen by Berkadia Seniors Housing & Healthcare division which took charge not just managing investment sales but also providing mortgage banking consultancy during negotiations . A team comprising four seasoned professionals namely Cody Tremper,Dave Fasano,Ross Sanders,Mike Garbers were responsible finalizing agreement between seller (Crow Holdings) and buyer.
In addition to this, Berkadia Seniors Housing & Healthcare’s Managing Directors Austin Sacco and Steve Muth along with Assistant Vice President Alec Rosenfeld successfully secured $17.47 million in acquisition financing via Fannie Mae for the joint venture buyers . The loan comes with a seven-year fixed rate plan that offers attractive interest rates as well as an initial period of interest-only payments .
Gardens at Annapolis was constructed back in 2002; it features a diverse mix of residential units including forty-two one-bedroom/one-bathroom apartments , twenty-three two-bedroom/one-bathroom apartments, and forty-one two-bedroom/two-bathroom units.
