Berkadia Secures $36M Bridge Loan for 276-Unit Class A Community in Georgia
Macon, GA. (Nov. 1, 2023) – Berkadia announces it has arranged a $36 million bridge loan for the refinancing of Pointe Grand Macon, a 276-unit Class A community in Macon, Georgia. Managing Director Michael Weinberg and Associate Director Wesley Moczul of Berkadia Orlando secured the financing on behalf of Hillpointe, a real estate investment firm based in Winter Park, Florida.
Berkadia provided the two-year, floating rate loan at a competitive interest rate. The financing will provide a return of equity for Hillpointe’s fund and allow for additional flexibility in placing permanent debt or pursuing a sale.
“After successfully closing multiple transactions with Hillpointe, including agency and HUD financing, this particular deal represents another creative solution for the borrower in a shifting capital market,” said Weinberg. “Berkadia remains committed to being a full-service advisor to its clients, adeptly managing their needs in a very challenging environment.”
Built in 2023, Pointe Grand Macon features two-bedroom apartments. Amenities include stainless steel appliances, high-speed internet, wood-style flooring, quartz countertops, and washer and dryers. The pet-friendly community features EV charging stations, 24-hour fitness center, conference room, community fire pit, and resort-style swimming pool.
Located at 5560 Riverside Dr, Point Grand Macon is situated near multiple employment, educational, and cultural centers within Macon. A short drive from Interstate 75, the community is minutes away from Mercer University and Middle Georgia State University, two of the largest employers in the area.