Berkadia Lends $37M on Georgia Multifamily Apartment Community
Financing will provide Hillpointe additional flexibility around its new housing development
By Brian Pascus December 13, 2023 11:40 am
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Hillpointe, a real estate developer based in Winter Park, Florida, has secured a $36.79 million bridge loan for Pointe Grand Warner Robins, a recently constructed multifamily community in Warner Robins, Ga., Commercial Observer has learned.
Berkadia’s multifamily lending group provided the two-year, floating-rate loan that includes extensions and is a full-term interest-only loan. Berkadia managing director Michael Weinberg and associate director Wesley Moczul, both based out of the firm’s Orlando office, arranged the financing on behalf of Hillpointe.
The bridge loan will allow Hillpointe to pursue the additional placement of debt or pursue a sale, according to Berkadia.
“This loan will offer maximum flexibility for our sponsor to navigate the ever-changing capital markets and is yet another representation of both Hillpointe and Berkadia’s dedication to workforce multifamily housing,” said Weinberg in a statement.
Pointe Grand Warner Robins is located at 1601 Leverette Road in Warner Robins, a community about 20 miles from Macon and 100 miles from Atlanta. Comprising ten three-story residential buildings and a clubhouse, Pointe Grand Warner Robins features 288 units and amenities such as resort-style swimming pool, 24-hour fitness center, and a business center.
Founded in 2018, Hillpointe specializes in developing workforce housing across Sunbelt markets, primarily Georgia, South Carolina, and Florida. The firm also develops student housing, senior housing, multifamily housing and single family housing.
Brian Pascus can be reached at bpascus@commercialobserver.com
