river-north

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. © 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 Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.

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MITCH SINBERG

Senior Managing Director 561.609.4006 mitch.sinberg@berkadia.com

MATTHEW ROBBINS

Managing Director 561.609.4008 matthew.robbins@berkadia.com

MORTGAGE BANKING

Wouter Lips

Senior Financial Analyst 786.830.9002 wouter.lips@berkadia.com

Roberto Pesant 

Senior Managing Director 305.975.5956 roberto.pesant@berkadia.com

David Greenburg

Financial Analyst 305.260.4973 david.greenburg@berkadia.com

Jaret Turkell 

Senior Managing Director 561.573.6140 jaret.turkell@berkadia.com 

Omar Morales 

Director 305.878.2278 omar.morales@berkadia.com 

INVESTMENT SALES

Miami

1111 Brickell Ave Suite 1650 Miami, FL 33131 

Boca Raton 

5100 Town Center Circle, Suite 550 Boca Raton, FL 33486

280-Unit, New Concrete Construction, Luxury Garden-Style Community Located in Stuart, FL

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Berkadia is pleased to exclusively present River North (the “Property”), a core, 280-unit luxury garden property in Stuart, FL. Built in 2023, the property consists of six four-story buildings centered by a luscious lake. River North was thoughtfully crafted and designed to meet the long-term needs of its residents, as proven by its above-average retention ratio. Its luxury amenities offer a resort-style pool with sundeck, BBQ grills and outdoor kitchen for entertainment, and a well-equipped fitness center. River North is located in the fourth-fastest growing metro in the country, having grown 52% over the past decade, and projected to grow 19% the coming five years. Over the past two years, over 1,500 units have been delivered (over 80% of the total market), while currently no institutional-sized properties are under construction in Martin County. River North’s high-quality product is well-positioned to capitalize on the supply-demand imbalance, as the property achieved nearly 9% effective rent growth on lease renewals in 2025. River North, and the Stuart market as a whole, are well-positioned to further benefit of the renter displacement story in Palm Beach County, where out-of-state movers are pushing renters to more affordable markets that can offer the same luxury amenities. The combination of the luxurious, thoughtful design of River north, and the supply and demand imbalances that are developing within the market, makes River North a compelling investment opportunity in South Florida’s real estate market.

EXECUTIVE SUMMARY

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Investment Highlights

1001 NE Baker Rd | Stuart, FL 34994

Berkadia is pleased to exclusively present River North (the “Property”), a core, 280-unit luxury garden property in Stuart, FL. Built in 2023, the Property consists of four 4-story, and two 3-story buildings centered by a luscious lake. River North was thoughtfully crafted and designed to meet the long term needs of its residents, as proven by its above-average retention ratio (64%). Its luxury amenities offer a resort-style pool with sundeck, BBQ grills, playground and outdoor kitchen for entertainment, and a well-equipped fitness center, while providing quick access to world-class leisure destinations, including Simon Group-owned Treasure Coast Mall. River North is located in the fourth-fastest-growing metro in the country, with 52% population growth over the past decade, projected to grow 19% the coming five years. During the past two years, over 1,500 units have been delivered and absorbed (over 80% of the total market), while currently no institutional-sized properties are under construction in Martin County. River North’s high-quality product is well positioned to capitalize on the supply-demand imbalance, as the Property achieved nearly 14% effective rent growth on lease renewals in 2025. River North, and the Stuart market as a whole, are well positioned to further benefit from the renter displacement story in Palm Beach County, where out-of-state movers are pushing renters to more affordable markets that can offer the same luxury amenities. The combination of the luxurious, thoughtful design of River North and the supply and demand imbalances that are developing within the market make River North a compelling investment opportunity in South Florida’s real estate market.

NO PROPERTIES UNDER CONSTRUCTION TO ACCOMMODATE ~20% POPULATION GROWTH ~14% EFFECTIVE RENT GROWTH ON RENEWALS WITH ABOVE-AVERAGE TENANT RETENTION$550+ RENTAL DISCOUNT VERSUS PALM BEACH COUNTY STRONG TENANT DEMOGRAPHICS - $95K MEDIAN HHI; 26.0% RENT-TO-INCOME ACCESS TO 5.5M+ SF OF RETAIL WITHIN A 10-MINUTE DRIVE Centrally located to a wide variety of area amenities RENTING AT RIVER NORTH IS HALF THE COST of OWNING A HOME Future Stuart Brightline to offer direct connection to major Florida hubs (2028)

MICHAEL BASINSKI

Director 561.609.4018michael.basinski@berkadia.com

MATTHEW ROBBINS

Managing Director 561.609.4008 matthew.robbins@berkadia.com