Berkadia Secures $11M Financing for Development of Westside Atlanta MXU Project

Berkadia Safeguards $11M Financing for Advancement of Westside Atlanta MXU Task

Berkadia has actually protected an $11 million financing for the growth of Intrada Westside, a recommended 143-unit, mixed-use, budget-friendly multifamily home on Atlanta’s Westside.

Located in Atlanta’s Grove Park community at 2174 Donald Lee Hollowell Parkway NW, the residential or commercial property is within a Certified Census Tract, Possibility Area and also the Hollowell TAD. The home will be built over a duration of 18 months. The economical constraints will accommodate families who make 50, 60 as well as 80 percent of AMI as well as 25 of the devices will obtain project-based rent subsidy marked for homeless young people between the ages of 18 as well as 24.

Carolyn Whatley of Berkadia’s Jupiter, Florida workplace as well as Lloyd Griffin and Frank Brown of Berkadia’s Cost effective platform protected financing in support of the developer, Missouri-based Vecino Group. The $11 million ahead dedication for irreversible funding through Fannie Mae’s M.TEB Program is a 15-year lending with a 35-year amortization timetable.

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David Cohen is Southeast Content Director at Attach Business Property. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles.
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Released at Sun, 11 Apr 2021 15:05:17 +0000

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