Campbell and Toland of Berkadia originate $10 million loan for Johnson Ave. LLC

Berkadia Commercial Mortgage originated $10 million in fixed-rate debt through its Freddie Mac program for the refinance of 150 Johnson Ave., a multifamily property. The 80% LTC loan features a 10-year term and 30-year amortization. Located on a 12,500 s/f lot at 150-158 Johnson Ave., the property is a seven-story building with 42 apartments, 22 gated surface parking spaces, a 24-hour fitness center, lounge, private and common roof decks, laundry room and storage room. The property-constructed in 2009-is fully occupied. Senior vice president Stewart Campbell and vice president Thomas Toland originated the transaction. The borrower was Johnson Avenue LLC. "Berkadia and Freddie Mac were able to meet challenges posed by a recently completed and stabilized asset with no operating history and pending 421(a) real estate abatement," Campbell said. "We refinanced the construction loan, providing the borrower with a low rate for the next 10 years." Berkadia Commercial Mortgage LLC is a highly rated special, master and primary servicer managing a portfolio of approximately $214 billion as of Dec. 31, 2010. As a correspondent for insurance companies and a leading approved lender for Fannie Mae, Freddie Mac and HUD/FHA, Berkadia offers clients access to capital sources for the acquisition, construction, rehabilitation or refinance of commercial real estate properties.