$88M acquisition includes Greenville-area apartment complex.

PositionGreenville, South Carolina

An Easley apartment complex has been acquired in an $87.8 million acquisition that involves 12 other properties across the Southeast.

Berkadia, a Pennsylvania-based commercial real estate investor, announced financing was secured for Infinity Russell Portfolio, an affordable housing portfolio consisting of 13 properties located in Georgia and South Carolina, a Berkadia news release stated. Managing Director Jeff Lawrence of Berkadia Atlanta secured the $87.8 million in acquisition financing on behalf of the borrower, Georgia-based Infinity RE Impact.

"Almost 10 years ago we financed the first deal for the predecessor company to Infinity and my team and I are so excited about Infinity's growth and development," said Lawrence in the release. "We are not merely a debt provider, they are our partner. As such, we are focused on assisting them in growing all aspects of their business."

The two-year bridge loan was financed through Berkadia.

"2022 has been a challenging year to acquire multifamily properties," said Greg Jones, chief investment officer for Infinity, in the release. "Proper financing in such a volatile market is critical, and Berkadia was an incredible partner all the way to the close. I could not be more appreciative of everyone involved. We have a...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT