Berkadia announces it has arranged a $36 million bridge loan for the refinancing of Pointe Grand Macon, a 276-unit Class A community in Macon, Georgia. Managing Director Michael Weinberg and Associate Director Wesley Moczul of Berkadia Orlando secured the financing on behalf of Hillpointe, a real estate investment firm based in Winter Park, Florida.
Berkadia provided the two-year, floating rate loan at a competitive interest rate. The financing will provide a return of equity for Hillpointe’s fund and allow for additional flexibility in placing permanent debt or pursuing a sale.
“After successfully closing multiple transactions with Hillpointe, including agency and HUD financing, this particular deal represents another creative solution for the borrower in a shifting capital market,” said Weinberg. “Berkadia remains committed to being a full-service advisor to its clients, adeptly managing their needs in a very challenging environment.”
Built in 2023, Pointe Grand Macon features two-bedroom apartments. Amenities include stainless steel appliances, high-speed internet, wood-style flooring, quartz countertops, and washer and dryers. The pet-friendly community features EV charging stations, 24-hour fitness center, conference room, community fire pit, and resort-style swimming pool.
Located at 5560 Riverside Dr, Point Grand Macon is situated near multiple employment, educational, and cultural centers within Macon. A short drive from Interstate 75, the community is minutes away from Mercer University and Middle Georgia State University, two of the largest employers in the area.
Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets. To learn more about Berkadia, please visit www.berkadia.com.