July Residential Secures $9.5M Refinancing From Revere Capital For Bonsai Apartments In Washington

The property asset involved is Bonsai Apartments, a boutique multifamily community located at 1214 Bladensburg Road Northeast in Washington. It comprises 41 units and has a loan amount of $9,500,000 associated with it. This asset type is positioned within a competitive market and is characterized by its modern amenities and prime urban location.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $9,500,000
• Lender: Revere Capital
• Landlord: July Residential
• Brokers: Mitch Sinberg, Matthew (Matt) Robbins, Scott Wadler, Brad Williamson & Brian Gould - Berkadia
• Loan Terms: two-year floating-rate loan with two one-year extension options

Berkadia arranged the refinancing for July Residential, indicating their role in securing funding for the stabilization of the property. This transaction involved multiple brokers actively representing the interests of their client in securing the financing necessary for the deal.