LOS ANGELES – September 22, 2017 – Berkadia today announced it secured $29.25 million in financing for The Woodmere, a luxury garden apartment property in Los Angeles. Managing Director Allan Freedman secured the refinancing loan through the Fannie Mae Green Rewards program on behalf of Woodmere, Ltd. The deal closed on August 14.

The 12-year, fixed-rate loan features full-term interest-only with escrow and carveout guarantor waivers, a 3.92 percent interest rate and a 30-year amortization schedule.

“The loan structure for Woodmere allowed the client to take out additional money for capital improvements, while also lowering the debt service substantially,” said Freedman.

The Woodmere is located at 3700 S. Sepulveda Blvd., affording convenient access to the University of California at Los Angeles and Santa Monica College, as well as metro and bus lines. The property features one- and two-bedroom floor plans with covered parking, gas fire places and private patios and balconies. Community amenities include a pool and spa with a sun deck, tennis courts, a billiards room, a cardio room and a business center.