Berkadia Secures $31M Construction Financing for 308-Bed Development Near Florida State

by Katie Sloan

Tallahassee, Fla. — Berkadia has secured $31 million in construction financing for CollegeTown Phase III, a 308-bed student housing development located adjacent to Florida State University in Tallahassee.

Brad Williamson of Berkadia’s South Florida office secured the loan through a regional bank on behalf of the borrower, Seminole Boosters Inc. The seven-story community is being developed by Alan Hooper and Tim Petrillo of Urban Street Development, and will feature a structured parking garage and 3,550 square feet of retail space. Construction is slated to begin this year. 

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