Berkadia, a leading commercial real estate services and investment firm, recently facilitated the sale and financing of Commonwealth Apartments in Richmond, Virginia. The property is a 234-unit luxury multifamily complex located in the Chesterfield submarket.
The seller, CMB Development, was represented by Berkadia’s DC Metro team along with their Norfolk and Richmond offices. On behalf of the buyer Mesa Capital Partners from Atlanta, Berkadia’s DC Metro office secured a $37.02 million Fannie Mae acquisition loan.
The deal was led by Senior Managing Director Drew White along with Managing Director Carter Wood and Director Cole Carns representing the seller. The financing efforts were headed by Senior Managing Director Patrick McGlohn together with Managing Directors Brian Gould and Hunter Wood as well as Senior Directors Miles Drinkwalter alongside Associates Patrick Cunningham and Natalie Hershey.
Situated at 5401 Commonwealth Centre Parkway in Midlothian,Virginia,the property boasts 234 luxurious units.”This transaction demonstrates our market expertise,and we are confident that this asset will be highly beneficial for the buyer,given its potential for growth,strong returns,and prime location within this thriving community,” stated White.
In summary,Berkadia successfully arranged both the sale of Commonwealth Apartments as well as securing financing for it through Fannie Mae on behalf of Mesa Capital Partners from Atlanta.The deal involved representation from multiple offices including DC Metro,Norfolk,and Richmond.Berkadia’s experienced team members,such as Drew White,Carter Wood,Cole Carns,Patrik McGlohn,Brian Gould,Miles Drinkwalter,Hunter Wood,Patrik Cunningham,and Natalie Hershey,were instrumental to its success.Located at 5401 Commonwealth Centre Parkway,the property offers top-notch amenities across its 234 luxury units.White expressed confidence that this transaction highlights their competitive edge while also providing strong returns to buyers due to its strategic location within an up-and-coming community.This news originally appeared on Connect CRE.
