NAPLES, FL—Berkadia arranged a $52.2 million acquisition loan for Aventine at Naples, a 350-unit luxury multifamily property. Berkadia's South Florida team of Charles Foschini and Chris Apone arranged the financing on behalf of the borrower, Advenir LLC. Berkadia secured a fixed-rate loan at an aggressive rate, partial interest only, for a seven-year term, through lender Freddie Mac . "Freddie Mac continues to evolve as a very forward-thinking lender," says Foschini. "Although Aventine at Naples is fairly new—built in 2002—the borrower saw inefficiencies in the asset's construction and viewed it as a value-add opportunity. We were able to work with Freddie Mac to allow this property to qualify for the green rewards program, which provides favorable financing terms for energy-saving retrofits. The improvements the borrower intends to make both aesthetically and environmentally to the asset will result in an exceptional investment for the borrower and an improved living experience for the residents."

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Middle Market Digest: This Week in Florida

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