Urban Standard Capital Provides $20.3 Million Refinance Loan For Multifamily Conversion In Baltimore

The transaction involves a multifamily asset located in Baltimore, MD, covering a total square footage of 258,500 and consisting of 303 units. The property was acquired through a refinance loan amounting to $20,300,000. The funding was provided by Urban Standard Capital, facilitating the conversion of a vacant hotel into apartments in Downtown Baltimore.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $20,300,000
• Lender: Seth Weissman, Robert Levine & Jeremy Plofker
• Loan Type: Refinance
• Market: Baltimore, MD
• Asset Square Footage: 258,500
• Units: 303

Seth Weissman, Robert Levine, and Jeremy Plofker from Urban Standard Capital played a crucial role in providing the acquisition and construction loan, demonstrating their capability by ensuring an expedited closing process for the distressed sale. The transaction was completed efficiently due to their collaboration with a highly experienced sponsor, who is responsible for the development project.