Berkadia secured the financing for WestRidge Flats, a 207-unit garden-style multifamily property in West Lafayette, Indiana.
Director Dan Gable and Associate Director Sam Orman of Berkadia Indianapolis secured the $28.1 million in bridge acquisition financing on behalf of the borrower, Indiana-based Jams Management Group, LLC. The deal closed on Jan. 28.
The one-year bridge loan financed through Berkadia features a 3.75 percent floating interest rate.
Located at 2919 Elite Lane, WestRidge Flats is a newly constructed luxury property featuring one-, two- and three-bedroom floor plans with in-unit washers and dryers. Community amenities include a clubhouse with a resident lounge, a game room, a fitness center, an outdoor patio and grilling stations.
