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JLL Secures $92.34M Loan For Luxury Apartment Building In North Bethesda, MD

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FINANCED
$92,340,000
Ryan Carroll
Jon Mikula
Jamie Leachman
+ 2

Maryland

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MultiFamily
Financed 11/28/2023
the dealplayerscompscontact
Property Image
FINANCED

JLL Secures $92.34M Loan For Luxury Apartment Building In North Bethesda, MD

5400 Mcgrath Boulevard

See Similar Deals
MultiFamily
Financed 11/28/2023
Ryan Carroll
Jon Mikula
Jamie Leachman
+ 2
the dealplayerscompscontact
Contact now

Summary

MARYLAND
Asset Type:MultiFamily
Transaction Type:Loan

JLL Capital Markets has secured $92.34 million in construction financing for Parcel H, a 354-unit luxury apartment building located at 5400 Mcgrath Boulevard in North Bethesda, Maryland. The four-year, floating-rate loan will fuel the development of the multifamily property, adding to the growing real estate market in North Bethesda.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $92,340,000
  • Address: 5400 Mcgrath Boulevard
  • Market: North Bethesda, MD
  • Units: 354

The landlord of Parcel H is Anthony J. Barsanti, representing LCOR. The brokers involved in the deal are Jamie Leachman, Jim Cadranell, Jon Mikula, and Ryan Carroll from JLL.

Players

Jim Cadranell
JLL
Jim Cadranell
33 deals$2.4B volume
BROKER
Jamie Leachman
JLL
Jamie Leachman
14 deals$1.2B volume
BROKER
Jon Mikula
JLL
Jon Mikula
42 deals$1.8B volume(973) 549-2006
BROKER
Ryan Carroll
JLL
Ryan Carroll
25 deals$936.9M volume
BROKER
AB
Anthony Barsanti
2 deals$186.3M volume
LANDLORD

Details

FINANCED
IMAGE: Anthony J. Barsanti, Jamie Leachman, Jim Cadranell, Jon Mikula & Ryan Carroll DATE: 11/28/2023 ADDRESS: 5400 Mcgrath Boulevard MARKET: North Bethesda, MD ASSET TYPE: Multifamily ~ UNITS: 354 LANDLORD: Anthony J. Barsanti - LCOR BROKERS: Jamie Leachman, Jim Cadranell, Jon Mikula & Ryan Carroll - JLL LOAN AMOUNT: $92,340,000 LOAN TERMS: four-year, floating-rate loan NOTE: JLL Capital Markets has secured $92.34 million in construction financing for Parcel H, a 354-unit luxury apartment building in North Bethesda, Maryland.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$92,340,000.00

Monthly NOI$615,600.00
Monthly Debt Service$583,651.61
Change in Cash Flow$0.00
Refinance Proceeds$0.00