Hillpointe Inks Financing for 276-Unit Macon Rental Community
Hillpointe has closed on a $37.17 million loan to refinance Pointe Grand Macon, a two-year-old 276-unit multifamily community in Macon.
Mitch Sinberg of Berkadia Boca Raton and Wesley Moczul of Berkadia Orlando, along with Brad Williamson, Scott Wadler, and Matthew Robbins, secured the financing on behalf of Hillpointe. Berkadia originated the Freddie Mac-backed seven-year, floating-rate loan with a three-year interest-only period and 35-year amortization.
“Pointe Grand Macon recently stabilized, and this refinance replaces a higher-priced bridge loan that Berkadia put on after construction,” explained Moczul. “The new debt significantly frees up cash flow and gives Hillpointe maximum backend flexibility to sell when desired or hold long-term.”
Built in 2023 at 5530 Riverside Drive, Pointe Grand Macon offers two-bedroom, two-bath apartments. The pet-friendly community features EV charging stations, a 24-hour fitness center, a conference room, a community fire pit, and a resort-style swimming pool.
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout