Berkadia Arranges $19.1M Financing for Miami Based Investors Acquisition of Build-to-Rent Community in Greater Orlando

Berkadia, a distinguished leader in the commercial real estate sector, announces that it arranged a $19.11 million loan for the acquisition of Ibis Park at Harmony West, a newly constructed purpose-built rental community consisting of 101 single-family rental homes in St. Cloud, Florida, within the rapidly expanding Orlando metropolitan area.

Managing Director Brad Williamson and Vice President Kyle Ryan, along with Senior Managing Director Mitch Sinberg and Managing DirecPreview posttors Scott Wadler and Matt Robbins of Berkadia Miami arranged the financing on behalf of the sponsor, Bayshore Investment Partners, LLC (BIP) of Coral Gables, Florida, which purchased the property from the country's largest homebuilder for $29.4 million. Berkadia originated the five-year, fixed-rate loan with a full-term interest-only structure.

The transaction continues Berkadia's longstanding work with BIP as the firm expands its
BTR portfolio, an asset class benefiting from sustained demand. Over the last two years, BIP has also acquired from the same homebuilder Cedar Ridge at Forest Lake in Davenport; Laurel Lakes in Tampa; and earlier this year, Fox Glen, a 100-home community in Cocoa; reinforcing the firm's investment strategy of acquiring newly developed rental communities in high-growth Florida markets.

"Renter demand for professionally managed build-to-rent communities continues to outpace new supply across many Florida markets," said Williamson. "The sector has matured into an important segment of the housing market. Bayshore has built a thoughtful portfolio by investing in high-quality communities in fast-growing Florida markets, and we're proud to continue supporting that strategy with financing solutions tailored to each acquisition."

Added Jose Tello, BIP Principal and Founder, "Ibis Park pushes our owned and managed portfolio past 2,000 units and our total acquisitions since inception beyond 3,050 residential units - momentum that reflects the strength of the BTR asset class and the discipline of our team. We see significant runway ahead in Florida and across the Sunbelt, and we
are grateful to partners like Berkadia who help us move quickly and competitively."

"Ibis Park reflects exactly the kind of asset we have built our BTR platform around - institutional-quality,newly constructed communities in high-growth Sunbelt markets with strong demographic fundamentals," added Efren Ales, BIP Principal and Managing Partner. "Our strategy of partnering with leading national homebuilders lets us acquire at scale while our vertically
integrated management platform, Cynergy, is involved from due diligence through closing. That integration is what turns individual acquisitions into a cohesive, professionally managed portfolio."

Completed in 2024 and located at 7110 Sandhill Crane Way, Ibis Park at Harmony West features 101 detached rental properties with spacious three-, four-, and five-bedroom floor plans. Each residence offers open-concept layouts with 10-foot ceilings, granite countertops, luxury vinyl plank flooring, stainless steel appliances, private patios, and fenced backyards.

Residents enjoy a robust amenity package that includes a clubhouse, fitness center, resort-styleswimming pool, volleyball court, playground, and outdoor gathering spaces. The amenities are integrated into the community's original design to create a neighborhood-oriented rental experience. Located within the Harmony West master-planned community, the property offers convenient access to Florida's Turnpike and U.S. Highway 192, providing connectivity to Orlando International Airport and the greater Orlando employment corridor.

Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in
the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions
for the entire life cycle of our clients' assets.