Batson-Cook Development Company And Ventures Development Group Secure $52 Million Bridge Loan In Orange City

The property involved in the transaction is a multifamily asset located at 1211 Parc Hill Boulevard in Orange City, comprising 298 units. A bridge loan of $52 million was secured to refinance the property.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $52,000,000
• Asset Address: 1211 Parc Hill Boulevard
• Market: Orange City
• Lender: Chris Hetzel - MonticelloAM
• Landlord: Batson-Cook Development Company; Rob McConnell - Ventures Development Group
• Brokers: Robert LaChapelle, Blake Cohen & Reed McGarity - CBRE
• Loan Type: Bridge
• Loan Terms: three-year loan with two 12-month extension options

A joint venture between Batson-Cook Development Company and Ventures Development Group was instrumental in securing the financing for the multifamily asset, facilitated by brokers Robert LaChapelle, Blake Cohen, and Reed McGarity from CBRE. This collaboration highlights the engagement of multiple stakeholders in the refinancing process.