Berkadia has arranged $36.7 million in acquisition and refinancing loans on behalf of Rental Asset Management (RAM) for three multifamily properties across Florida, including two in Miami-Dade County and one in Pasco County. The transactions include acquisition financing for the newly completed RAM Four Hialeah in Hialeah and refinancing loans for The Devonshire in Miami Springs and Summer Lake Villas in New Port Richey.
The financing was arranged by Managing Director Matthew Robbins and Vice President Hugo Hernandez of Berkadia’s Boca Raton office, alongside Senior Managing Director Mitch Sinberg and Managing Directors Brad Williamson and Scott Wadler. The transactions involved financing originated through Fannie Mae and Freddie Mac.
Credit: Summer Lake Villas.
“RAM continues to strategically grow and strengthen its multifamily portfolio, and these three transactions demonstrate the range of financing options available to well-capitalized, experienced operators,” said Robbins. “We’ve had the opportunity to work with RAM on multiple transactions and are pleased to continue supporting their investment strategy with agency financing tailored to each asset.”
The largest acquisition transaction involved RAM Four Hialeah, a newly constructed, 54-unit multifamily development comprising four neighboring buildings at 853, 859, 879, and 909 East 24th Street in Hialeah. Berkadia originated a $10.28 million Fannie Mae acquisition loan for the property, which contains a mix of one- and two-bedroom apartments. The five-year, fixed-rate loan was secured at a 56 percent loan-to-value ratio and includes full-term interest-only payments with a 30-year amortization schedule. The transaction closed on August 28, 2026.
In Miami Springs, Berkadia originated a $3.24 million Freddie Mac-backed refinancing loan for The Devonshire, a 36-unit apartment community at 401-451 Crescent Drive. Constructed in 1964, the property is situated near Miami International Airport. The five-year, fixed-rate loan was secured at a 39 percent loan-to-value ratio and includes full-term interest-only payments and a 30-year amortization schedule. The refinancing closed on September 10, 2026.
The largest of the three loans was a $23.211 million Freddie Mac refinancing for Summer Lake Villas, a multifamily community at 4331 Fiji Drive in New Port Richey. Built in 2003, the property contains residences ranging from one to five bedrooms, with amenities including a swimming pool, fitness center, clubhouse, landscaped courtyards, and walking paths. The five-year, fixed-rate loan was secured at a 60 percent loan-to-value ratio and provides three years of interest-only payments, followed by a 35-year amortization schedule. The transaction closed on September 30, 2026.
The financing arrangements continue Berkadia’s existing relationship with RAM, a Lauderdale, Florida-based multifamily owner and operator whose portfolio encompasses more than 3,000 residential units across 50 properties throughout Florida.
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