Berkadia has arranged a series of financings totaling $36.7 million on behalf of Rental Asset Management (RAM) for three multifamily communities located in Florida, including two properties in Miami-Dade County. The mandate was executed for RAM, which is based in Lauderdale, Florida, and spans both acquisition and refinancing assignments across the portfolio.
The transactions were led by Matthew Robbins and Hugo Hernandez from Berkadia’s Boca Raton office, working alongside colleagues Mitch Sinberg, Brad Williamson and Scott Wadler. The team structured separate loans for each asset, tailored to the individual business plans and property profiles, and sourced financing from the agency lending platforms of Fannie Mae and Freddie Mac.
For RAM Four Hialeah in Hialeah, Berkadia arranged an acquisition loan through Fannie Mae. The firm originated a $10.28 million Fannie Mae acquisition facility for the newly built 54-unit multifamily community. The financing supports RAM’s purchase of the asset and reflects agency appetite for recently delivered rental housing in established residential submarkets.
Berkadia also secured refinancing for The Devonshire, an apartment community in Miami Springs. The firm originated a Freddie Mac-backed loan to refinance the 36-unit property, which is located at 401-451 Crescent Drive and was originally built in 1964. The new debt replaces existing financing on the asset, providing updated capital structure terms while keeping the property within the agency lending ecosystem.
The largest component of the assignment involved Summer Lake Villas, a multifamily community located at 4331 Fiji Drive in New Port Richey. Berkadia originated a $23.211 million Freddie Mac refinancing for this property, delivering the bulk of the total proceeds arranged for RAM across the three-asset portfolio. The loan recapitalizes the asset under long-term agency financing, aligning with Freddie Mac’s focus on stabilized rental housing.
Collectively, the three transactions underscore continued use of agency executions for both acquisitions and refinancings of Florida multifamily communities. By combining Fannie Mae and Freddie Mac loans across newly built and older vintage properties, Berkadia aligned RAM’s capital stack with agency programs suited to the specific risk profiles and operating histories of each community.
