Berkadia Arranges $19M Refi for Tucson Property
MultiHousing News | June 18, 2018
Berkadia has arranged $19.2 million in financing for Enclave at the Foothills, a 300-unit multifamily garden-style property in Tucson, Ariz. Managing Director Ed Kim of Berkadia’s Irvine office secured the refinancing through Freddie Mac. The 10-year loan features five years of interest-only at a 75 percent loan-to-value ratio and a 30-year amortization period. Berkadia acted on behalf of owner and manager, Arizona-based HSL Properties Inc.