Berkadia successfully brokered and arranged financing for the $85.35 million sale of Springs at Cooley Station, a 276-unit apartment complex in Gilbert, Arizona. Utah-based Millburn and Company purchased the property for approximately $309,000 per unit. Michael Slovitt of Berkadia led financing efforts on behalf of the buyer with Fannie Mae providing full-term interest only permanent financing featuring a rate buydown to lock in an all-in fixed rate of 5.03 percent over 10 years. Dan Cheyne represented the seller during this transaction process.
“MD Student Housing Receives $48M Funding from First Citizens Bank”
First Citizens Bank has recently provided $47.7 million in financing for Aspen College Park, a student housing facility located at
Steve Griffin
January 31, 2025
