NorthMarq Arranges $141.7 Million Loan For Washington Property Co Multifamily Portfolio In Maryland

The asset involved in this transaction is a two-property apartment portfolio located in suburban Maryland, specifically at 1150 Ripley Street in Silver Spring and 7607 Old Georgetown Road in Bethesda. The portfolio comprises a newly built multifamily property, Solaire 7607, and another property, Solaire 1150 Ripley, constructed in 2012. The total loan amount for this financing arrangement was $141,700,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $141,700,000
• Address: 1150 Ripley Street & 7607 Old Georgetown Road
• Market: Silver Spring & Bethesda, MD
• Brokers: Jason Smith & Kenneth Gentzel - NorthMarq

The financing for this transaction was arranged by NorthMarq on behalf of Washington Property Co., highlighting the companies involved in the acquisition and financial structuring of the two-property portfolio. The arrangement reflects the ongoing activity within the multifamily sector in suburban Maryland.