MONTICELLOAM, a specialized multifamily and seniors housing bridge lending platform, along with a firm affiliate, announced the financing of a $71,200,000 floating-rate senior bridge loan for a multifamily community in Maryland. The financing was originated by Chris Hetzel, Managing Director at MONTICELLOAM, and brokered by JLL Washington’s Jamie Leachman, Amit Kakar, Sean O’Brien, and Will Deskey.
 
“We were thrilled to be able to leverage our firm’s multifamily financing expertise to structure a loan that will help AION Partners achieve their business plan for the property,” said Mr. Hetzel. 
The loan carries a 24-month primary term with three extensions at a floating rate for the Sponsor, AION Partners. The group plans to use proceeds from the $71,200,000 bridge loan to refinance the existing debt on the property.
 
Mariner’s Pointe, located fifteen miles north of Baltimore, is a 466-unit, garden-style apartment community located in Joppa, Maryland, with amenities including a dog park, playground, and dedicated resident space for picnics and BBQs.
 
“The MONTICELLOAM bridge lending platform was built with a borrower-centric approach as they access tailored capital solutions to meet their deal-specific goals. We’re proud to partner with the mortgage bankers at JLL Washington and the borrower team at AION Partners as they secure bridge financing to complete their value-add business plan at Mariner’s Pointe,” adds Eric Baum, head of the MONTICELLOAM Multifamily Bridge Lending team.