Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
MORTGAGE BANKING
INVESTMENT SALES
CONTACT US
$2,213/$2.12
Market Rent
322,272
RENTABLE AREA
2023
YOC
312
UNITS
Investment highlights
Tremendous opportunity to eliminate loss-to-lease by growing rents on certain units to net maximum allowable rents
1
Durham has a dynamic economy that is anchored by higher education institutions, high-tech research companies, and manufacturing firms
2
Both properties currently benefiting from 100% real estate tax exemptions
3
Durham County has experienced an outstanding average FMR increase of 11.14% for the past five years
4
xxx
6
96%
OCCUPIED
The LIHTC restrictions will expire at the end of 2037 and 2032, allowing for a conversion to market at that time
5
GALLERY- Falls Pointe at the park
GALLERY- magnolia pointe apartment homes
2001
BUILT
Photo Gallery
Investment Highlights
Property Overview
Doc Center
Privacy
Contact
Terms of Use
100 Cascade Falls Ln. - Durham, NC 27713
BACK TO TOP
PROPERTY OVERVIEW
Falls Pointe at the Park is a 312-unit affordable housing community located in Durham, NC. The property is conveniently located minutes from major retailers, including Target, Food Lion, and Best Buy. Numerous restaurants, outdoor recreation, schools, and major transportation arteries are nearby as well. Durham is home to several institutions of higher education that are easily accessible from the property.
The property was built in 2001 and placed in service in 2002 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There are existing regulatory agreements in place which require all units to be rented to income qualifying residents earning no more than 60% & 80% of the Area Median Income (AMI) limits, which are provided by the North Carolina Federal Tax Reform Allocation Committee.
Falls Pointe at the Park offers one, two, and three bedroom apartment homes featuring private patios/balconies, large closets, lighted ceiling fans, microwaves, garbage disposals, and washer/dryer connections. Community amenities include a pool, fitness center, playground, social lounge, package receiving, tennis court, and outdoor eating areas with gas grills.
Visit Doc Center
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2025 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
4201 Congress St. Suite 200 Charlotte, NC 28209
CHARLOTTE OFFICE
601 Union St. Suite 3909 Seattle, WA 98101
SEATTLE OFFICE
Director Multifamily 704.565.9391 thomas.colaiezzi@berkadia.com
NC License #332976
Thomas Colaiezzi
Senior Managing Director Affordable Housing
253.653.3313 brandon.grisham@berkadia.com
WA License #26367
BRANDON GRISHAM
Managing Director
504.322.1196
chris.crump@berkadia.com
CHRIS CRUMP
Associate Director 817.821.9559 jack.leonhard@berkadia.com
Jack Leonhard
The Asset
Photo Gallery
Contact
Doc Center
Privacy
Terms of Use
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
4
Senior LIHTC Property built in 2011 containing 90 units located in the 8-story building along with 10 three-bedroom townhome units
5
Well located asset just under 7 miles from downtown Miami, as well as the Miami International Airport
Senior Managing Director
214.360.3849
tim.leonhard@berkadia.com
TIM LEONHARD
Director Affordable Housing
425.761.1640 mike.terry@berkadia.com
MT License #89005
MIKE TERRY
Senior Director Affordable Housing
208.631.4981 jordan.skyles@berkadia.com
ID License #SP42885
Jordan Skyles
Director of Operations Affordable Housing
208.296.2073 jordan.baird@berkadia.com
CA License #02251798
Jordan Baird
Director Affordable Housing
425.999.1152 adam.tomberg@berkadia.com
WA License #22019732
Adam Tomberg
Senior Financial Analyst Affordable Housing
206.512.5567 ryley.lewis@berkadia.com
WA License #22027158
Ryley Lewis
4801 Danube Ln. - Durham, NC 27704
96%
OCCUPIED
UNITS
266
2006
BUILT
$2,213/$2.12
Market Rent
294,350
RENTABLE AREA
2023
YOC
QUICK STATS
Magnolia Pointe Apartment Homes is a 266-unit affordable housing community located in Durham, NC. The property is conveniently located minutes from major retailers, including Harris Teeter, Lowe’s, and Food Lion. Numerous restaurants, outdoor recreation, schools, and major transportation arteries are nearby as well. Durham is home to several institutions of higher education that are easily accessible from the property.
The property was built in 2006 and placed in service in 2007 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There are existing regulatory agreements in place which require all units to be rented to income qualifying residents earning no more than 40%, 60%, & 80% of the Area Median Income (AMI) limits, which are provided by North Carolina Federal Tax Reform Allocation Committee.
Magnolia Pointe Apartment Homes offers one, two, and three bedroom apartment homes featuring private patios/balconies, large closets, lighted ceiling fans, microwaves, garbage disposals, and washer/dryer connections. Community amenities include a pool, fitness center, playground, social lounge, package receiving, tennis court, and outdoor eating areas with gas grills.
FALLS POINTE AT THE PARK
MAGNOLIA POINTE
Associate Director Affordable Housing
253.355.1521 sam.kasteler@berkadia.com
UT License #14126557-SA00
Sam Kasteler
Associate Director Multifamily 919.812.3174 matthew.robertson@berkadia.com
NC License #346395
Matt Robertson
Managing Director Multifamily
314.607.3481 caleb.troop@berkadia.com
NC License #292175
Caleb troop
Director Multifamily 704.565.9391 thomas.colaiezzi@berkadia.com
NC License #332976
Thomas Colaiezzi
Senior Managing Director Affordable Housing
253.653.3313 brandon.grisham@berkadia.com
WA License #26367
BRANDON GRISHAM
INVESTMENT SALES