MALV22

Gumenick Properties, a builder and property manager, owns the Malvern Manor apartments.

Commercial mortgage firm Berkadia said it provided $41.02 million in financing for the Malvern Manor apartments.

The borrower was Virginia-based Malvern Manor Apartments LLC, and the deal closed on Aug. 31. Berkadia said. The 34-year permanent refinancing features a 3.95 percent interest rate and an 80 percent loan-to-value ratio.

The apartment complex at Malvern Avenue and West Cary Street in Richmond’s West End is owned by Henrico County-based Gumenick Properties.

A Richmond landmark since the late 1940s, Malvern Manor underwenta major renovation and an expansion of amenities, including a new clubhouse and swimming pool, about nine years ago.

Berkadia is a joint venture of Berkshire Hathaway and Jefferies Financial Group. Senior director Steve Murden and senior managing director David Blake of the Richmond office secured the loan.

Sign up to receive daily business news emails from The Times-Dispatch

* I understand and agree that registration on or use of this site constitutes agreement to its user agreement and privacy policy.

— From staff reports

Load comments

You must be a full digital subscriber to read this article You must be a digital subscriber to view this article.