Berkadia Arranges For Rilea Group a $21 Million Refinancing of Garden-Style Apartment Community in Kendall, Florida

July 14, 2022

Berkadia Arranges For Rilea Group a $21 Million Refinancing of Garden-Style Apartment Community in Kendall, Florida

July 14, 2022
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MIAMI (July 12, 2022) – Berkadia announces it has arranged the refinancing of Vista Verde at Deerwood, a 208-unit garden-style apartment community in the Kendall submarket of Miami. Senior Managing Director Charles Foschini, Managing Director Christopher Apone and Senior Analyst Shannon Wilson of Berkadia Miami secured the financing on behalf of RILEA Group, a real estate management and development company based in Miami, Fla.

 

State Farm provided the 10-year, fixed-rate loan, with interest only.

 

“Kendall is experiencing resurgent demand and scarce vacancies, now one of the lowest in the metro, which has led to a year-over-year rent growth of 17.9 percent,” said Foschini

 

Located at 13901 SW 122ND Avenue, Vista Verde at Deerwood was built in 1999 and offers one-, two- and three-bedroom apartments averaging 698 square feet to 1,176 square feet. Individual amenities feature hurricane shutters, walk-in closets, European-style cabinets, frost free refrigerators and ice makers, range and oven, dishwashers, double stainless-steel sinks, wall-to-wall designer carpeting, vertical blinds, pest control services and high efficiency wall insulation. The pet friendly community amenities include a pool with free Wi-Fi, a fitness center, volleyball court, BBQ and picnic area, balconies and patios.

 

Vista Verde at Deerwood is situated within the Kendall submarket of Miami, close to the Miami Dade College Kendall Campus, West Kendall Baptist Hospital, Jackson South Medical Center, The Falls shopping mall, the Zoo Miami, Deerwood Bonita Lakes Park, Tamiami Pinelands and the Sergeant Joseph Delancy Park.