$45M in financing secured for Danbury complex

Berkadia, a Berkshire Hathaway and Leucadia National company, has secured $45 million in financing for the Powers Industrial Portfolio, a 17-building mix of industrial and warehouse buildings in Danbury. Berkadia secured the permanent refinancing through Citigroup on behalf of Delaware Commerce Park LLC.

Yuri Kletsman, managing director of Berkadia”™s New York office, led the financing, which consisted of a 10-year loan featuring a 6.4 percent fixed interest rate blended between a senior and mezzanine loan structure. The loan also featured an 80 percent loan-to-value ratio.

Earlier this year, Berkadia handled the acquisition financing for the 374-unit luxury apartment complex at 1 Kennedy Flats in Danbury.