Berkadia Secures Preferred Equity Partner for Recapitalization of 1,350-Bed Student Housing Portfolio

Rochester and Buffalo, N.Y. and Wilmington, N.C. — Berkadia has secured a preferred equity partner for the recapitalization of a 1,350-bed student housing portfolio owned by OC Ventures. The properties are located in Rochester and Buffalo, New York, as well as Wilmington, North Carolina. Chinmay Bhatt, Noam Franklin, Cody Kirkpatrick, and Matthew Tu of Berkadia Joint Venture Equity & Structured Capital secured the undisclosed private equity partner on behalf of the borrower. All of the communities will be managed by Varsity Campus.