Berkadia, a leading commercial real estate company, has successfully arranged financing and equity for Legacy Park in Brownsburg, Indiana. The garden-style walk-up apartment community consists of 250 units and was built in 2009.
Cody Kirkpatrick, Noam Franklin, and Chinmay Bhatt from Berkadia JV Equity & Structured Capital were responsible for securing $13 million in institutional equity to support Wilkinson Corporation’s acquisition. Additionally, Richard Levine from Berkadia Atlanta secured $29.947 million in financing on behalf of the buyer through a seven-year loan financed by Freddie Mac.
According to Kirkpatrick: “We were confident that we could find an institutional partner for our long-time client Wilkinson Corporation due to their strong track record of acquiring multifamily properties in the Indianapolis MSA.” Franklin added: “Our team is actively sourcing equity for experienced sponsors and we are seeing significant interest from institutions looking at select markets within the Midwest.”
Legacy Park is located at 6750 Legacy Park Drive and offers one-, two-, and three-bedroom floorplans. This latest success further solidifies Berkadia’s expertise as they continue to provide top-notch services within the commercial real estate industry.
