First National Bank Provides $61M Construction Loan For Hyattsville Development Project

The NRP Group and EJF Capital have secured a $61 million construction loan from First National Bank for the development of a 361-unit multifamily community in Hyattsville, Maryland. The project is located in Hyattsville, MD, and is classified as a development site.

Summary of transaction details

• Property Type: Development Site
• Loan Amount: $61,000,000
• Loan Type: Construction
• Lender: First National Bank
• Landlord: NRP Group - David Heller & EJF Capital - Neal Wilson

The NRP Group, represented by David Heller, and EJF Capital, represented by Neal Wilson, have successfully secured a construction loan of $61 million from First National Bank. This loan will be utilized to develop a 361-unit multifamily community in Hyattsville, Maryland. The financing provided by First National Bank demonstrates their confidence in the project and the developers' ability to execute their plans.