ST. LOUIS and SAN CLEMENTE, Calif. – August 21, 2018 – Berkadia today announced the recent financing of Egate Apartments, a garden-style multifamily property in Salt Lake City. Senior Managing Director Kevin Kozminske of the St. Louis office and Managing Director Art Tuverson of the San Clemente, California office secured the 35-year permanent refinancing on behalf of Utah-based EGate Partners LLC. The deal closed July 26.
The loan, secured through the HUD FHA 223(F) program, features a fixed interest rate at 3.40 percent.
“We are excited to get Egate Apartments closed,” said Kozminske. “It was an excellent transaction for HUD providing work force housing in the market.”
Located at 2292 Ruddy Way, Egate Apartments features units with two- and three-bedroom floor plans that include amenities such as dishwashers, in-unit washers and dryers, and decks and balconies or patios. Residents also have access to a fitness center, a playground, a hot tub and pool, and a clubhouse. The property is less than a mile from Maverik Center Arena and is walkable from Decker Lake Park & Ride train station.