Berkadia Refis Georgia Apartments With $32M Loan

Hillpointe has secured a $31.7 million loan to refinance a newly built Georgia multifamily asset, Commercial Observer has learned.

Berkadia provided the Freddie Mac-backed seven-year, floating-rate loan for Hillpointe’s 276-unit Pointe Grand Macon project in Macon, Ga. The deal was structured with a three-year interest-only period and 35-year amortization. 

Berkadia originated the deal with a team consisting of Mitch Sinberg, Wesley Moczul, Brad Williamson, Scott Wadler and Matthew Robbins.

“Pointe Grand Macon recently stabilized, and this refinance replaces a higher-priced bridge loan that Berkadia put on after construction,” Moczul said in a statement. “The new debt significantly frees up cash flow and gives Hillpointe maximum back-end flexibility to sell when desired or hold long term.” 

Located at 5530 Riverside Drive 75 miles southeast of Atlanta, the 2023-built property is within minutes of Mercer University and Middle Georgia State University. Community amenities include electric vehicle charging stations, a fitness center, a conference room, a pool and a fire pit.

Officials at Hillpointe did not immediately return a request for comment.

Andrew Coen can be reached at acoen@commercialobserver.com.