IRVINE, Calif. – December 8, 2020 – Berkadia today announced the $18.8 million in financing secured for Caldera at Sunnybrook, a garden-style multifamily property located in Clackamas, Oregon. Managing Director David Bleiweiss and Associate Director Jack Hunsicker of Berkadia’s Irvine, California office secured the permanent refinancing for the property on behalf of the Los Angeles-based borrower, Investors Management Group, Inc. The deal closed on December 1.
The 10-year, Freddie Mac loan features a 70 percent loan-to-value ratio and a 30-year amortization schedule.
“Despite the ongoing pandemic, the borrower was able to return capital to their investors after executing a successful value-add business plan,” said Hunsicker.
Located at 9900 SE Lawnfield Road, Caldera at Sunnybrook features one-, two- and three-bedroom floor plans with large closets and patios or balconies. Community amenities include a swimming pool, a fitness center, a clubhouse, an outdoor area with grilling stations, a business center and laundry facilities. Residents are afforded convenient access to Mount Talbert Nature Park, Clackamas Town Center and Interstate 205.