LOUIS – October 5, 2021 – Berkadia announced today the financing secured for Olde Oak Apartments, a garden-style multifamily property in Saraland, Alabama. Director Pat Garlich of Berkadia St. Louis secured the $24.578 million in permanent refinancing on behalf of the borrower, Missouri-based Maxus Realty Trust Inc. The deal closed on September 20.
Freddie Mac provided the seven-year loan.
“We are so glad that we could help our client capitalize on the historically low rates and achieve their financing goals for this property,” said Garlich.
Located at 1200 Grande Oak Blvd., Olde Oak Apartments features one- and two-bedroom floor plans with in-unit washers and dryers and air conditioning. Community amenities include a swimming pool, a fitness center, a business center, a clubhouse, a dog park, a spa and a picnic area with grilling stations. Residents are afforded convenient access to Interstate 65 and the shops and restaurants along U.S. Route 43.