Berkadia Closes Sale & Finance for Martinsburg BTR Community
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A joint venture between DSP Real Estate Capital and Rockbridge Investment Group has acquired the Meadows at Berkeley Ridge, a new 148-unit townhome community in Martinsburg, West Virginia. The terms of the sale were not disclosed.
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Brett Moss and Tyler Swidler of Berkadia led the sale, while Phil Branigan and Miles Drinkwalter, and Natalie Revers of Berkadia DC Metro secured a loan for the acquisition on behalf of the buyer. The lender, Fannie Mae, provided a 10-year, fixed-rate loan, and the deal closed on March 27.
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“Berkeley County and the greater Eastern Panhandle region of West Virginia has seen a rapid influx of people moving to the region who predominantly work in white collar positions in Northern Virginia and the Washington D.C. areas,” said Moss. “The Meadows at Berkeley Ridge commands a highly desirable location at the confluence of four states and offers a premium product at a lower cost-of-living relative to other primary markets in the Mid-Atlantic.”
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READ MORE: https://www.connectcre.com/stories/berkadia-closes-sale-finance-for-martinsburg-btr-community/
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REFERENCES : Connect CRE, May 8, 2024 -
Disclaimer: The article content above is derived from CoStar May 8, 2024 newsletter and is used here for informational purposes. [DSPrecapital.com] is an independent entity and not officially affiliated with ConnectCre.