Jacksonville Community Receives Freddie Mac Loan
- May 19, 2020
The Apartment Co. has taken a $5.9 million loan to refinance Regency Place, a 120-unit, Class B community in Jacksonville, Fla. Berkadia originated the 15-year, Freddie Mac mortgage, according to public records. The new origination replaces a $4.1 million Fannie Mae note, which Berkadia provided for the borrower in 2012, Yardi Matrix shows.
Located on 15 acres at 9855 Regency Square Blvd., the property encompasses 14 buildings delivered in 1984. The unit mix has one- and two-bedroom floorplans, ranging from 760 to 1,400 square feet. Amenities include two swimming pools, a clubhouse and laundry facilities. The property is less than 2 miles from Interstate 295 and some 7 miles east of downtown Jacksonville. The 1.4 million-square-foot Regency Square Mall is less than half a mile southwest.
In March, Berkadia acted on behalf of Quad Property Group in its $10.6 million disposition of Promenade Park Avenue, a 105-unit, Class B property in Orange Park, Fla. The firm also arranged financing for the buyer, Michaelson Group.