DETROIT and ATLANTA – May 6, 2020 – Berkadia today announced the sale of a two-property multifamily portfolio in Grand Rapids, Michigan, totaling almost 400 units. Berkadia’s Great Lakes Team, comprised of Managing Director Jason Krug, Senior Managing Director Kevin Dillion, Managing Director Rick Vidrio, Senior Director Rick Brace and Directors Corey Krug, Carly Dietz and Charley Henneghan, completed the sale on behalf the New York-based seller. The buyer was an Indiana-based undisclosed entity, and the deal closed March 27.
Senior Managing Director Richard Levine of Berkadia’s Atlanta office secured the financing for the acquisition of the property.
“There was a tremendous amount of interest generated for the portfolio,” said Jason Krug. “Grand Rapids continues to be a destination for many regional and national investors as we received offers from all over the country.”