LOS ANGELES – October 10, 2017 – Berkadia today announced that it recently secured a $62.5 million loan to finance Amerige Pointe, a 292-unit multifamily property located in Fullerton, California. Managing Director Jackson Cloak secured the financing for the borrower. The deal closed on September 27.
The loan, a seven-year fixed-rate treasury loan, features a 3.5 percent interest rate with full-term interest-only. Quadrant-AXA Equitable Life Insurance Company provided the financing that will be serviced by Berkadia.
“It was a great team effort for a world-class client and Class A property,” said Cloak. “Borrower strength and experience combined with continuously improving property performance positioned Amerige Pointe for excellent terms.”
Located at 1001 Starbuck Street, Amerige Pointe consists of studio, one-, two- and three-bedroom units. The property is located directly across from an Albertson’s- and Target-anchored retail center. Unit amenities include direct access and detached garages, washers and dryers, 9-foot ceilings, island kitchens and oval roman tubs. Community amenities include an indoor sports court, a conference room with a business center, a theatre, a game room, a fully-equipped fitness center and a resort-style pool and spa.