Berkadia Arranges Sale and Financing of 270-Unit Masons Keepe in Manassas, Virginia

CRE Market Beat Take

Agency-backed, fixed-rate financing at 70% LTV on a suburban D.C. multifamily asset underscores the depth of capital still available for well-leased garden communities. For investors, it signals that Freddie Mac remains a reliable source of leverage even as terms skew toward conservative but durable structures.

Berkadia has completed the sale and financing of Masons Keepe, a 270-unit garden-style multifamily community in Manassas, Virginia. The transaction involved both an investment sale and new debt placement for the property, which serves renters in Prince William County and the greater Washington, D.C. metropolitan area.

The Berkadia DC Metro team, led by Senior Managing Director Brian Crivella and supported by Managing Directors Bill Gribbin and Yalda Ghamarian and Associate Director Jack Canepa, worked alongside Senior Managing Director Drew White of Berkadia Richmond to arrange the sale. The seller was University Village Apartments, LLC, which disposed of the 270-unit asset as part of the transaction.

On the capital markets side, Berkadia also structured new financing for the buyer, Bridge Investment Group. Senior Managing Director Brad Williamson of Berkadia Miami and Senior Managing Director Christopher Ellis of Berkadia Denver secured the loan on the buyer’s behalf, highlighting Berkadia’s role in coordinating both sides of the transaction.

The financing was originated by Berkadia and secured by Freddie Mac, using a five-year, fixed-rate loan structure. The debt features a three-year interest-only period followed by a 35-year amortization schedule and a 70% loan-to-value ratio. The combination of a fixed rate, extended amortization, and interest-only period underscores a long-term, agency-backed capital stack for the asset.

Masons Keepe, located at 9000 Landings Drive, was built in 2004 and offers a mix of one- and two-bedroom apartment homes. The community provides residents with convenient access to employment centers throughout Prince William County and the broader Washington, D.C. metro, anchoring its appeal in regional connectivity and commuter demand.

The coordinated sale and financing effort, involving Berkadia teams across the DC Metro, Richmond, Miami, and Denver offices, reflects ongoing investor and lender interest in institutional-quality multifamily assets in established suburban submarkets such as Manassas.