Berkadia has arranged refinancing for RiverHouse Apartments, a 144-unit, garden-style multifamily property in Riverside, AL. Managing Director Tom Genetti of Berkadia Atlanta secured $13 million in refinance proceeds through Fannie Mae on behalf of the owner Birmingham-based The Oakley Group. The deal closed on June 27th.
Tom Genetti commented that “The Oakley Group did an excellent job with their renovation at RiverHouse which is situated along Lake Logan Martin” and added that “We were pleased to help them capitalize on all their hard work and improvements they have made since acquiring the property in 2021 by returning capital back to their investors”.
RiverHouse Apartments are located at 300 Riverhouse Loop offering convenient access to Lake Logan Martin, a reservoir on the Coosa River built in 1981 featuring newly refurbished one-, two-, and three-bedroom apartments as well as community amenities such as fishing pier, pool and playgrounds for its residents’ enjoyment .
