Berkadia has secured financing for the acquisition of Arcadia Decatur, a 101-unit garden-style apartment community located in Decatur.
The community located at 220 North Arcadia Avenue was built in 2020. It features one- and two-bedroom floor plans. Community amenities include a fitness center, outdoor grilling, pool and sundeck, and more.
Managing Director Scott Wadler of Berkadia Miami and Managing Director Matt Robbins and Vice President Abigail Beauchamp of Berkadia Boca Raton secured a $13 million loan on behalf of the sponsors, a joint venture between Atlantic Pacific Companies and Highline Real Estate Capital.
“Arcadia Decatur is a newer property being bought below replacement cost at a healthy cap rate,” Wadler said in an announcement. “Our team was excited to be able to help AP and Highline secure a strong, accretive fixed-rate loan for the apartment community and help the joint venture expand its presence in the Southeast.”
Berkadia originated and Freddie Mac purchased the five-year, fixed-rate loan with full-term interest only.
