RIPCO Real Estate Arranges $28M Bridge Loan for College Park Multifamily
RIPCO Real Estate announced it has successfully arranged a $28.3 million bridge loan for The Arbor College Park, a 134-unit multifamily community located at 4800 Berwyn House Road in College Park, Maryland.
The financing represents a modified bridge upsizing with RMWC, the same lender that provided the property’s original $25.4 million bridge loan arranged by RIPCO in December 2024.RIPCO’s Executive Managing Director, Adam Hakim and Managing Director, James Murad, represented Cape Advisors in securing the financing, which will support the property’s transition from redevelopment to lease-up.
Originally acquired in late 2024, the asset has been comprehensively repositioned from student housing into a modern multifamily community. Located adjacent to the University of Maryland on a 4.25-acre site, The Arbor College Park features 134 newly renovated studio, one- and two-bedroom apartments with modern finishes, an expanded fitness center with sauna, co-working spaces, resident lounges, landscaped outdoor amenities and upgraded building infrastructure.
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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