Let`s make a deal

b e r k e l e y
p o i n t
®
let’s make
a deal…
Sampling of New England Deals
b e r k e l e y
p o i n t
®
Watermark Cambridge
Cambridge, MA
321 units ● Refinance
$88M
Fannie Mae
West Village
Mansfield, MA
200 units ● Refinance
$21.3M
Fannie Mae
Fox Point Manor
Providence, RI
99 units ● Seniors – Refinance
$9.5M
FHA 223(f)
Crimson Court
Cambridge, MA
60 units ● Refinance
$4.5M
Freddie Mac
147-02/2014
Property and deal information subject to change.
Sampling of New England Deals
b e r k e l e y
p o i n t
®
Phoenix Apartments
Groton, CT
96 units ● Refinance
$4.6M
Fannie Mae
Berkshiretown
Pittsfield, MA
184 units ● Seniors – Refinance
$7.5M
FHA 223(f)
Clipper Apartments
Quincy, MA
132 units ● Refinance
$15M
Freddie Mac
Groton Apartments
Groton, CT
141 units ● Refinance
$8M
Fannie Mae
147-02/2014
Property and deal information subject to change.
sample deals
b e r k e l e y
p o i n t
®
The Standard on West Dallas
Houston, TX
380 Units ● Acquisition
$40 million
Fannie Mae
Meridian Point Apt.
Puyallup, WA
170 Units ● Refinance
$30.9 million
Fannie Mae
Wilderness Village Apt.
Maple Valley, WA
170 Units ● Refinance
$14 million
Freddie Mac
Crosspointe Apt.
Federal Way, WA
130 Units ● Refinance
$5.1 million
Fannie Mae
Property and deal information subject to change.
sample deals
b e r k e l e y
p o i n t
®
The Shores at McIntosh Lake
Longmont, CO
280 Units ● Refinance
$17.5 million
Freddie Mac
Fountain Park Apt.
Beaverton, OR
216 Units ● Acquisition
$11.3 million
Freddie Mac
Maple Gardens Apt.
Dallas, TX
120 Units ● Acquisition
$12.5 million
Fannie Mae
Echelon
Lakewood, WA
254 Units ● Refinance
$28.5 million
FHA
For more information, please contact:
Ed Belz, Managing Director, Berkeley Point Capital
(p) 617-722-5005 • (c) 617-721-0893 • [email protected]
146-01/2014
Property and deal information subject to change.
sample deals
b e r k e l e y
p o i n t
®
Park Towers II
Sandy Springs, GA
300 Units ● Acquisition
$25.8 million
Freddie Mac
Oxford West Apt.
303 Units
●
Refinance
$6.5 million
Fannie Mae
Student Housing
Cityfront Place Apt.
Chicago, IL
480 Units ● Acquisition
$57.4 million
Freddie Mac
Cornerstone Pool
Miami & Ft. Lauderdale, FL
1254 Units ● Refinance
$65.4 million
Fannie Mae
For more information, please contact:
Ed Belz, Managing Director, Berkeley Point Capital
(p) 617-722-5005 • (c) 617-721-0893 • [email protected]
145-01/2014
Property and deal information subject to change.
b e r k e l e y
p o i n t
®
sampling of
apartment deals in DC, MD & VA
Silver Spring, MD
1,119 units
●
Refinance
$120 million
Freddie Mac
Silver Spring, MD
891 units
●
Acquisition
$121 million
Freddie Mac
Falls Church, VA
493 Units
●
Portfolio Refinance
$62 million
Freddie Mac
Washington, DC
53 Units
●
Refinance
$16.1 million
Freddie Mac
132-9/2013
Property and deal information subject to change.
berkeley point deals
b e r k e l e y
p o i n t
®
Berkeley Point Capital
Facilitates $24.95M for
Refinance of Grace Park in
Morrisville, NC
Bethesda, MD – Berkeley Point recently closed a $24.95
million loan to refinance Grace Park, a 128 unit, Class A,
urban-style village property located in Morrisville, NC.
This mixed-use property contains retail stores and is
situated in close proximity to Research Triangle Park, a
significant growth engine for the area. The financing
was arranged under the Freddie Mac Capital Markets
Execution program as a seven-year deal term and thirty
-year amortization schedule.
The co-sponsors, Ed Kalikow of
Kalikow Group and Ellis Coleman
of EYC Companies, began the
development of Grace Park in
2005 with a free-standing retail
building, anchored by Starbucks.
Complementary retail and
apartment buildings were
added in 2009-2010.
Berkeley Point Capital, led by
Brian Kochan, Director, worked
with Freddie Mac to structure
the financing arrangement for
the mixed-use property in order
to achieve the goals of the cosponsors. Despite the increasing
interest rate environment,
Berkeley Point and Freddie Mac
were able to deliver a very
favorable loan arrangement
Property and deal information subject to change.
berkeley point deals
b e r k e l e y
p o i n t
®
that included an increase in
loan proceeds, based on the
strength of the asset, the local
market, and the sponsorship.
Situated near the top of a rise at
a major intersection, the property
offers its more than 20 retail
tenants a high profile location
with superb visibility and access,
while also offering its apartment
residents the benefit of high-end
living with large floor plans, and
the added convenience of
restaurants and retail services
on the same property. Grace
Park is located at the southern
end of Research Triangle Park,
the largest research park in the
United States.
127-9/2013
“This transaction is yet another
example of Berkeley Point’s
expertise in facilitating a
successful and seamless
execution despite market
conditions,” said Jim McDevitt,
President, Berkeley Point Capital.
“We look forward to continuing
our partnership with the firm
and to execute beyond
expectations.”
Property and deal information subject to change.
Sampling of Florida Deals
b e r k e l e y
p o i n t
®
Miami & Fort Lauderdale, FL
●
1254 Units
Refinance
$65.4 million
Fannie Mae
DelRay Beach, FL
488 Unit
●
Acquisition
$50.6 million
Freddie Mac
Sarasota, FL
224 Unit
●
Acquisition
$19.3 million
Fannie Mae
Largo, FL
228 Units
●
Refinance
$12.2 million
Freddie Mac
126-9/2013
Property and deal information subject to change.
sampling of west coast deals
b e r k e l e y
p o i n t
®
Torrance, CA
436 units ● Refinance
$30M
Fannie Mae
Los Angeles, CA
37 units ● Refinance
$5.9M
Freddie Mac
Costa Mesa, CA
242 units ● Refinance
$12M
Fannie Mae
For more information, please contact:
Darrin Stovall, Director, Berkeley Point Capital
(p) 310-225-1250 • (c) 310-927-1704 • [email protected]
Property and deal information subject to change.
sampling of west coast deals
b e r k e l e y
p o i n t
®
South Jordan, UT
276 units ● Refinance
$31.93M
FHA
Davis, CA
160 units ● Refinance
$20M
Freddie Mac
Carmel, IN
166 units ● Refinance
$5M
Fannie Mae
For more information, please contact:
Scot Snowball, Director, Berkeley Point Capital
(p) 949-754-6362 • (c) 949-230-9619 • [email protected]
118-9/2013
Property and deal information subject to change.
b e r k e l e y
p o i n t
®
sampling of
apartment deals in DC, MD & VA
Alexandria, VA
727 Units
●
Refinance
$77 million
Fannie Mae
Falls Church, VA
493 Units
●
Portfolio Refinance
$62 million
Freddie Mac
Washington, DC
53 Units
●
Refinance
$16.1 million
Freddie Mac
Property and deal information subject to change.
berkeley point deals
b e r k e l e y
p o i n t
®
Berkeley Point Masterfully
Executes $325M in
Refinancing for The Gateway,
in San Francisco, CA
Bethesda, MD – Berkeley Point Capital LLC and Freddie
Mac recently closed a $325,000,000 refinance loan on The
Gateway, a 1,254 unit multifamily property with over 62,000
sq. ft. of ground floor retail. The property was built between
1965 and 1967 on 7.74 acres in San Francisco’s financial
district. The ten-year, full-term interest-only loan has a fixed
rate of 3.38%, and is the largest single-asset loan in Berkeley
Point Capital’s history. The loan was originated by Mitch
Clarfield, Senior Managing Director at Berkeley Point.
Situated on three blocks at the
edge of San Francisco CBD, the
property is bordered by Jackson
St., Drumm St., Battery St., and
Washington St. and is a prime
location with expansive city and
Bay views, offering residents easy
access to shopping, employment,
and the Financial District, Ferry
Building, and the notable
Embarcadero. Retail tenants at
the property include Safeway,
Bank of America and Starbucks.
Berkeley worked with the Sponsor
over an extended period of time
to identify execution options.
Already familiar with the sponsor
and the asset, Berkeley Point and
Freddie Mac were positioned to
rate-lock in 15 days following the
sponsor’s selection of the
Property and deal information subject to change.
berkeley point deals
b e r k e l e y
p o i n t
®
execution option that best met
its objectives. This was no small
task given the size of the loan,
the complexity of the borrower
structure, the age of the property,
and the volatile interest rate
environment. Berkley Point also
arranged for an extended rate
lock at a small incremental cost
to the borrower. The extended
rate lock removed rate and
spread risk from the situation,
while allowing for amortization of
the yield maintenance premium,
providing substantial savings to
the borrower.
The asset has been in Berkeley
Point’s and Freddie Mac’s
portfolios since 1997, and this
transaction represents their fifth
financing of the property for the
sponsor. Berkeley Point and
Freddie Mac refinanced the
asset in 1997 and then again in
2005. Second mortgages were
placed on the property in 2001
as well as in 2007.
“Berkeley Point Capital and
Freddie Mac had valuable
knowledge about the asset and
have a long-standing relationship
with the asset’s ownership group,
giving us an edge in what was a
very competitive process”, said
Mitch Clarfield, Senior Managing
Director at Berkeley Point. “We
took a very proactive stance in
hopes that we could provide our
customer an opportunity to lock
in a long term rate at what
proved to be near historic lows.
We worked closely with Freddie
Mac to put an outstanding offer
on the table. This is a one of a
kind asset and we wanted it to
remain in our portfolio for at
least another 10 years.”
For more information, please contact:
Mitch Clarfield, Senior Managing Director
(p) 310-255-1233 • (c ) 310-963-5696 • [email protected]
104-9/2013
Property and deal information subject to change.
berkeley point deals
b e r k e l e y
p o i n t
®
Berkeley Point Capital Facilitates
$12.5M for Acquisition of Maple
Gardens in Dallas, TX.
Bethesda, MD – Berkeley Point recently closed the
acquisition financing of Maple Gardens, a Class A,
120-unit apartment community located in Dallas, TX.
The financing was structured under the Fannie Mae
DUS program as a ten-year deal term with two years
interest-only at a fixed rate of 4.33 % and thirty -year
amortization schedule. Newly constructed in 2011, the
property includes three four-story, mid-rise buildings.
The acquisition is a joint venture
between Jeff Riggs and Scott
Fisher of Baron Properties, and
the American National
Insurance company (ANICO).
The venture is part of Baron
Properties’ strategy to foray into
the major multifamily markets of
Texas, where the firm has an
existing industrial portfolio. Baron
Properties recently acquired
AMLI Towne Square Apartments
and The Cheval Apartments in
Houston, TX, and currently has
extensive multifamily operations
in Colorado and Arizona.
Maple Gardens is the fifteenth
multifamily transaction between
Baron Properties and Berkeley
Point. Ed Belz, Managing
Director, led the Berkeley Point
team to structure the financing
Property and deal information subject to change.
berkeley point deals
b e r k e l e y
p o i n t
®
arrangement with Fannie Mae.
Berkeley Point was able to
arrange financing which
included maximum loan
proceeds and a two year
interest-only period, while rate
locking the deal rapidly,
15 business days following
application.
“As always, I so appreciate Ed,
he’s a pro, and the whole
Berkeley team,” said Scott Fisher,
Principal, Baron Properties.
The recently constructed, Class A
asset includes high end unit
finishes and is in close proximity
to downtown, Dallas and within
103-9/2013
walking distance to the city’s
high profile Medical District that
includes world-renowned UT
Southwestern Medical School
and Center. The property is
located close to major arteries
and offers its residents superb
visibility and access. The
neighborhood is experiencing
substantial redevelopment and
expansion with over $1.2B being
invested in the nearby Parkland
Memorial Hospital. The area has
also seen major economic
growth from the construction of
the DART light rail system and the
modernization and expansion of
nearby Love Field Airport.
Property and deal information subject to change.