Bridge Investment Group & Pacific Development Partners Secure $73 Million Loan For Ballpark Apartments

The property asset involved in the context is a multifamily complex located at 201 Evans Avenue, Reno, NV. This asset consists of 368 units and occupies a total square footage of 486,000. A loan amount of $73 million has been secured for this property, specifically designed for bridge financing.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $73,000,000
• Market: Reno, NV
• Units: 368
• Square Footage: 486,000
• Lender: Dwight Investment Management
• Landlord: Bridge Investment Group & Pacific Development Partners
• Originators: Brandon Baksh, Tommy Ng & Talisse Thompson - Dwight Investment Management

This transaction represents a joint venture between Bridge Investment Group and Pacific Development Partners, which aimed to refinance Ballpark Apartments through the financing provided by Dwight Investment Management. The proceeds from the loan will be utilized for funding an interest reserve and returning equity to the owners of the property.