October 4, 2019 – Berkadia announces it has secured $36.14 million in acquisition financing for Ventura Pointe, a newly built 206-unit multifamily community located in Pembroke Pines, Florida. Senior Managing Director Charles Foschini and Managing Director Christopher Apone arranged the loan on behalf of the buyer, Ventura Pointe Apartments, LLC.
MetLife originated a 5-year loan with full-term interest at a 65 percent loan to value.
“Broward County has demonstrated considerable economic growth in a variety of sectors,” said Foschini. “Multifamily fundamentals will remain strong as demand is expected to continue growing steadily and create annual upward pressure.”
Built in 2018, Ventura Pointe is located at 7850 Pasadena Boulevard and consists of four- and five-story modern garden-style buildings with elevator access. One-, two- and three-bedroom units include nine-foot ceilings, granite countertops and stainless steel appliances, vinyl plank flooring, private balconies and other high-end finishes. Community amenities include a swimming pool with lounge area and summer kitchen; clubhouse and resident lounge with kitchen, billiards table and business center; 24-hour fitness center; spin room; pet park with agility course; and two-acre park with lake and walking path.
Located in southern Broward County, Ventura Pointe is near multiple highways and employment hubs. Interstate 75 is about six miles west of the property and Interstate 95 is just five miles east. The new regional American Express headquarters is 20 minutes away, as well as Fort Lauderdale-Hollywood International Airport. Downtown Fort Lauderdale and Port Everglades are 25 minutes away, supporting over 9 million square feet of office space and over 13,000 direct jobs at the port.