{"id":1004122145,"date":"2015-06-29T01:53:23","date_gmt":"2015-06-29T09:53:23","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=353921"},"modified":"2020-04-07T07:21:05","modified_gmt":"2020-04-07T15:21:05","slug":"four-point-play-for-berkadia","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/four-point-play-for-berkadia\/","title":{"rendered":"Four-Point Play for Berkadia"},"content":{"rendered":"

By Ioana Neamt, Associate Editor<\/em><\/p>\n

\"Hobby<\/a><\/p>\n

Hobby Lobby Micro Center, Westmont, Ill.<\/em><\/p>\n<\/div>\n

It\u2019s been a hard day\u2019s night for Berkadia<\/a>. The company has been putting in a lot of hours lately, closing on four separate transactions across three states.<\/p>\n

According to a news release, three managing directors from Berkadia\u2019s Chicago office teamed up with Associate Director Michael Slovitt on four transactions totaling $23.87 million. The properties are located in Oklahoma City, Denver and suburban Chicago.<\/p>\n

Mellow Mushroom<\/strong> \u2013 a pizza restaurant franchise located in the Denver-Aurora metro area. Managing Director Laura Cathlina, together with Slovitt managed to provide $2.02 million in financing for Kapsia Properties I LLC to acquire the property. The brokers arranged a 10-year loan at a 4.5 percent interest rate.<\/p>\n

Cottages at Hefner<\/strong> \u2013 a 256-unit multifamily property in Oklahoma City. Managing Director Aaron Abelson and Slovitt secured a 10-year CMBS refinancing loan of $12.8 million. The CMBS lender provided 100 percent of the cost for borrower The Cottages at Hefner Road LLC.<\/p>\n

Fresenius Medical Care Highland Park<\/strong> \u2013 a dialysis treatment center in Highland Park, Ill. Slovitt and Abelson originated a $2.55 million loan to facilitate the acquisition of the property by Shepard-Warrenville I LLC and Shepard-Warrenville II LLC. Berkadia managed to secure a 20-year loan through a Life Insurance Co. correspondent.<\/p>\n

Hobby Lobby & Micro Center<\/strong> \u2013 a two-tenant retail center located in Westmont, Ill. Slovitt and Managing Director Bob Toland secured a 10-year, $6.5 million loan for SCP Realty Fund II \u2013 Westmont LLC to acquire the asset. The loan features a 30-year amortization schedule that maximizes the client\u2019s cash-on-cash return.<\/p>\n

According to Michael Slovitt, each of the borrowers involved in the four transactions has been a long-time Berkadia client. \u201cNo matter the property type \u2013 in this case multifamily, medical and retail \u2013 deal size, or market, we\u2019re able to provide our clients with custom solutions that fit their specific needs,\u201d he added.<\/p>\n

Image courtesy of Berkadia Commercial Mortgage LLC<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

It’s been a hard day’s night for Berkadia.<\/p>\n","protected":false},"author":192,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[],"class_list":["post-1004122145","post","type-post","status-publish","format-standard","hentry","category-latest"],"acf":[],"yoast_head":"\nFour-Point Play for Berkadia - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/four-point-play-for-berkadia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Four-Point Play for Berkadia\" \/>\n<meta property=\"og:description\" content=\"It’s been a hard day’s night for Berkadia.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/four-point-play-for-berkadia\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-06-29T09:53:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-07T15:21:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/06\/Hobby-Lobby_Micro-Center.jpg\" \/>\n<meta name=\"author\" content=\"Ioana Neamt\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/four-point-play-for-berkadia\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/four-point-play-for-berkadia\\\/\"},\"author\":{\"name\":\"Ioana Neamt\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/993af2799cdaf5162633d320cf63ff16\"},\"headline\":\"Four-Point Play for Berkadia\",\"datePublished\":\"2015-06-29T09:53:23+00:00\",\"dateModified\":\"2020-04-07T15:21:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/four-point-play-for-berkadia\\\/\"},\"wordCount\":24,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/four-point-play-for-berkadia\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/06\\\/Hobby-Lobby_Micro-Center.jpg\",\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/four-point-play-for-berkadia\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/four-point-play-for-berkadia\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/four-point-play-for-berkadia\\\/\",\"name\":\"Four-Point Play for Berkadia - 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