By Keat Foong, Executive Editor
McHenry, Ill. –Berkadia Commercial Mortgage LLC (Berkadia) originated two permanent, fixed-rate loans totaling $24,095,200 for multifamily properties in McHenry, Ill.
The 35-year, fully amortizing loans each had an interest rate of 4.63 percent. Westside Crest Apartments was financed for $7,135,200, and Fawn Ridge Apartments was financed for $16, 960,000.
John Oharenko, Tom Sigrist, Paul Matusiak and Laura Cathlina of Berkadia’s Chicago office originated the loans through the company’s FHA/HUD program. The borrowers—first-time FHA/HUD borrowers—were Westside Crest Limited Partnership and Fawn Ridge Apartments Limited Partnership.
Berkadia acquired the North American loan origination and servicing businesses of Capmark Financial Group Inc. in December 2009. The FHA/HUD loan origination platform has been an industry leader for more than a decade.