Berkadia Lands financing for Luxor Bala Cynwyd and Virginia asset

ACRE Capital funds $37 Million PA multifamily deal

Courtesy of Alliance

PENNSYLVANIA & VIRGINIA — Berkadia arranged an acquisition loan on behalf of a joint venture for the acquisition of Luxor Bala Cynwyd, a 173-unit, luxury multifamily community located in Bala Cynwyd, PA.

Senior managing director Patrick McGlohn, managing director Brian Gould, senior director Hunter Wood, VP Patrick Cunningham and associate director Natalie Hershey of Berkadia DC Metro secured a $37 million acquisition loan from ACRE Capital on behalf of the buyer – a joint venture between Alliance Residential of Scottsdale, AZ and PCCP of Los Angeles.

Completed in 2021 and located at 9 Presidential Blvd., Luxor Bala Cynwyd features a mix of studio, one- and two-bedroom residences ranging from 497 to 1,157 s/f.

Compass at City Center

In a second transaction, Berkadia arranged the sale and financing of Compass at City Center, a 396-unit, garden-style multifamily community located in Newport News, VA.

Senior managing director Drew White, managing director Carter Wood, and director Cole Carns of Berkadia’s Richmond office represented the seller, C-III Capital Partners, along with Drucker & Falk. A joint venture between Penzance – a fully integrated real estate owner, operator, developer, and fund manager – and Kettler acquired the property on December 16, 2025.

McGlohn, Gould, Wood, Cunningham and Hershey secured an acquisition loan on behalf of Penzance and Kettler.

Located at 501-A Waters Edge Dr., Compass at City Center was built in 1985 and comprises 33 three-story buildings situated on a 25-acre site. The community offers a mix of one-, two-, and three-bedroom floor plans averaging 995 s/f.

Compass at City Center is situated within one of the Peninsula’s most desirable urban-suburban environments – a walkable, master-planned setting surrounded by one million s/f of class A office space and more than 230,000 s/f of high-end retail and dining.