Berkadia secured the financing for Flats on Houk, a 168-unit garden-style multifamily property in Delaware, Ohio.
Managing director Scott Wilkie and associate director Evan Ballmann of Berkadia’s Columbus, Ohio, office secured $16.5 million in permanent refinancing on the property. The deal closed on Feb. 12.
The 10-year Fannie Mae loan features a 2.94 percent interest rate, a 55 percent loan-to-value ratio and full-term interest-only.
Located at 1000 Solomon Square, Flats on Houk features one- and two-bedroom floor plans with large closets and in-unit washers and dryers. Community amenities include a picnic area with grilling stations, a swimming pool, a fitness center, a recreation room, a clubhouse, a dog park and a community garden.
Residents are afforded convenient access to U.S. Route 42, Delaware Municipal Airport and Ohio Wesleyan University.
