Berkadia Forms New Strategic Capital Group
Berkadia announced the addition of two Senior Managing Directors and a Vice President to establish the new group. The trio worked together at CBRE Capital Advisors.
Berkadia announced the addition of two Senior Managing Directors and a Vice President to establish the new group. The trio worked together at CBRE Capital Advisors.
Completed in 2024 at 1765 N. Miami Avenue, Wynwood Haus is a 20-story property located at the entrance of Wynwood and offers studios, one- and two bedroom-units, along with 6,824 square feet of ground floor retail.
The 689,940-square-foot portfolio consists of 20 warehouse buildings located in the Medley submarket.
The deal illustrates investor appetite for Build-to-Rent (BTR) product in land-constrained South Florida.
Grover Corlew anticipates immediately breaking ground with completion expected by May 2027.
The property is currently 100% occupied and has historically operated at full occupancy during Urban Street Development’s ownership.
Charles J. Foschini, Christopher Apone, Lourdes Carranza-Alvarez and Shannon Wilson of Berkadia Miami secured the financing on behalf of the sponsors, Neology Development Group and American Opportunity Zone Advisors (AOZA).
Senior Managing Directors Roberto Pesant and Jaret Turkell, along with Directors Omar Morales and Yoav Yuhjtman of Berkadia South Florida, led the transaction on behalf of the seller, MAG Real Estate & Development of Delray Beach.
Senior Director Yoav Yuhjtman, along with Senior Managing Directors Roberto Pesant and Jaret Turkell, and Associate Director Omar Morales of Berkadia South Florida led the transaction on behalf of the seller, New York-based real estate investment firm Axonic Properties.
The lender, a life insurance company, provided the five-year, fixed-rate loan with full-term interest only at an attractive interest rate.
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