SHREWSBURY, N.J. – December 5, 2018 – Berkadia today announced the $36.825 million acquisition financing for Vista Wilde Lake, a midrise multifamily property in Columbia, Maryland. Managing Director Robert Lipson of the Shrewsbury, New Jersey office secured the financing through Freddie Mac on behalf of Delaware-based Vista Wilde Lake Apartments LLC. The deal closed on November 6.
The 10-year permanent acquisition financing features a 4.66 percent fixed interest rate, a 75 percent loan-to-value ratio and a 30-year amortization schedule.
“We were able to work with the borrower and Freddie Mac to meet a tight closing timetable,” said Lipson. “The property was still in lease-up when the application was signed, but we were able to underwrite full occupancy, as it was in place by closing.”
Located at 5421 Lynx Lane, Vista Wilde Lake affords convenient access to the Columbia Mall and the Columbia Town Center, offering residents convenient access to many different shops and restaurants. The property offers spacious one-, two- and three-bedroom units with modern finishes, including quartz countertops, high ceilings, wood-grain flooring and stainless-steel appliances. On-site amenities include a business center, a24-hour fitness center, several resident lounges, a saltwater swimming pool and a sundeck.