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January 13, 2011

Berkadia Commercial Mortgage

Berkadia Commercial Mortgage originated $6.25 million in fixed-rate debt through its Freddie Mac program to refinance Garden Pointe Apartments in Burien. The 10-year financing has a 30-year amortization and represents 61 percent loan-to-value. The 124-unit property is 16 years old and is 96 percent occupied. Louis Weisman of Berkadia's Seattle office originated the loan. The borrower is RRR Properties LLC.




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