Berkadia Originates Three HUD-Insured Loans for Multifamily Properties in Virginia

RICHMOND, VA. — Berkadia has originated three HUD 223(f) loans for a trio of garden-style apartment communities in Virginia. The deals included an $11.5 million loan for the refinancing of Westlake Apartments in Hardy; a $9.5 million loan for the refinancing of River Retreat Apartments in Covington; and an $11.4 million loan for the refinancing of Madison Apartments in Christiansburg. Amy Gay of Berkadia’s FHA/HUD division originated the loans on behalf of the borrower, Roanoke, Va.-based Fralin