Updated Oct 12, 2026
Elmington Residential Secures $50 Million Loan From Ladder Capital For Multifamily Asset In Huntsville
1589 Old Monrovia Road Northwest & 100 Stanwich Rd Nw
$50,000,000
$305/SF
Building Size
163,816 SF
Asset Type
MultiFamily
Closing
Sep 9, 2026
About this deal
AI
1589 Old Monrovia Road Northwest & 100 Stanwich Rd NW is a multifamily property located in the Huntsville & Madison, AL market. The asset encompasses a total square footage of 402,850 and consists of 239 units. The loan amount secured for this property is $50,000,000, representing a balance sheet refinance with terms set for 3 years.
Summary of transation details:
- Property Type: Multifamily/BTR
- Transaction Amount: $50,000,000
- Loan Type: Balance Sheet Refinance
- Loan Terms: 3 Years
- Lender: Ladder Capital
- Lender's Representatives: Michael Deford & Garrett Darraugh
- Borrower: Elmington Residential
- Landlord's Representatives: Nick Harb & Brittney Rowe - Bellwether Enterprise (BWE)
Michael Deford and Garrett Darraugh are the representatives for Ladder Capital in this transaction, while Nick Harb and Brittney Rowe represent the landlord through Bellwether Enterprise (BWE). Elmington Residential acts as the borrower securing the refinance for this multifamily asset.
On the Map
$50,000,000
$305/SF
MultiFamily
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Players
Huntsville MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.32%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93