MONTICELLOAM Finances $38M Bridge Loan for VA Apartments
MONTICELLOAM, along with a firm affiliate, closed a floating-rate loan of $37.85 million for an apartment complex located in Virginia. The financing was originated by MONTICELLOAM Managing Director Chris Hetzel and was facilitated by Jamie Leachman, Reina Abboud, and Sydney Powell, based in JLL’s D.C. office.
“This closing highlights our team’s ability to execute tailored lending solutions in a dynamic market. MONTICELLOAM is proud to support our clients with the speed and certainty they need, and we look forward to continuing to expand our footprint in the multifamily lending sector,” said Mr. Hetzel.
Bayville Apartments is a 240-unit garden-style community located in Virginia Beach. The community amenities include a swimming pool, dog park, playground, 24/7 emergency maintenance, picnic areas and outdoor grills.
“This transaction showcased exactly that, and we’re grateful to have partnered with the JLL DC team to make it happen,” said Eric Baum, who leads the MONTICELLOAM Multifamily Bridge Lending team.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout