Berkadia arranged the sale and acquisition financing of The Oliver, a newly built 151-unit multifamily community located in an Opportunity Zone in St. Louis. Director Bobby Mills and managing directors Andrea Kendrick and Ken Aston of Berkadia St. Louis completed the sale on behalf of the sellers, Missouri-based Larson Capital Management and Ridgehouse Companies. Deal terms weren’t disclosed.
Senior managing director Bob Falese and director Jeremy Lynch of Berkadia Philadelphia arranged the financing on behalf of the buyer, Fortbridge Capital Partners.
“The sale and financing of The Oliver was a true team effort,” said Mills. “Working in collaboration with Berkadia’s debt team allowed us to quickly sell and finance this Opportunity Zone project prior to full certificate of occupancy, at 0% occupancy, in 29 days. Ridgehouse and Larson developed a top-tier, highly successful community which is a strong testament to the much-needed housing density in the rapidly growing Olivette corridor.”