Berkadia arranged the financing of two Jacksonville apartments. The refinancing, which amounted to $73 million for both multifamily properties, was on behalf of ROI Capital.

Brad Williamson, Wesley Moczul, Mitch Sinberg, Matt Robbins and Scott Wadler all had a hand in securing the two loans.

Berkadia secured $19.9 million to refinance the 200-unit The Village at San Jose, which was built in 1948 and renovated in 2021 and 2023, and $53 million to refinance the 444-unit The Villas at Ortega, which was built in 1972.

Berkadia originated and Freddie Mac purchased the five-year, fixed-rate loans through its Green Advantage program. Both loans have a 35-year amortization schedule and are partially interest-only.

ROI Capital Group says it is a national multifamily owner-operator specializing in acquiring, developing, and managing multifamily properties. Its mission is to maximize returns for investors while providing exceptional living environments for residents.

StarPoint Properties closed the $49.5-million sale of 6th Street Point, a new 179,000-square-foot industrial property located on a 9.8-acre site at 24712 6th St. in San Bernardino. The buyer for the Opportunity Zone (OZ) project was a global institutional real estate firm.

“While most OZ investments are planned for a 10-year hold, our Prime and Prime OZ Program is able to maximize returns on this investment in just three years,” said Paul Daneshrad, CEO and founder of StarPoint Properties. “As a result, by selling now and rolling these funds into multiple other investments, we’ll be able to pursue future projects that will continue to yield the highest returns possible for our investors.”

The first OZ sale for StarPoint, this represents one of the few full cycle OZ sales in the marketplace to date. It represents a 242% ROI, following the firm’s acquisition of the land for $6.5 million in 2020.

Connect Orange County will take place Sept. 27, 2023 at VEA | Newport Beach Marriott in Newport Beach, concurrently with Connect Healthcare Real Estate on Sept. 27 and 28. Click here to register for Connect Orange County, and here to register for Connect Healthcare Real Estate.