“Jax Apartments Secures $73M Refinancing with ROI”

"Jax Apartments Secures $73M Refinancing with ROI"

Berkadia successfully arranged the financing for two apartment complexes in Jacksonville, totaling $73 million. The refinancing was done on behalf of ROI Capital Group.

The team at Berkadia, including Brad Williamson, Wesley Moczul, Mitch Sinberg, Matt Robbins and Scott Wadler all played a role in securing the loans for these multifamily properties.

One of the loans secured by Berkadia was for $19.9 million to refinance The Village at San Jose. This 200-unit complex was originally built in 1948 and underwent renovations in both 2021 and 2023. The other loan obtained by Berkadia was for $53 million to refinance The Villas at Ortega – a 444-unit complex built in 1972.

These loans were originated through Freddie Mac’s Green Advantage program with a fixed-rate term of five years. They also have a long amortization schedule of up to 35 years with partial interest-only payments.

ROI Capital Group is known as a national owner-operator specializing in multifamily properties across the country. Their focus is on acquiring, developing and managing these properties while striving to provide exceptional living environments for their residents – all while maximizing returns for investors.

This successful refinancing deal highlights Berkadia’s expertise and commitment to providing top-notch financial solutions within the commercial real estate industry.

About the Publisher:
Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax and REVVED Up Accounting. In addition, Steve founded Madison Avenue Technology. With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.

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