RPM Living Secures $40.8M Loan From J.P. Morgan Chase For 274-Unit Cincinnati Acquisition

The asset involved in this transaction is the 274-unit Reserve at Glenbridge, located at 11513 Village Brook Drive in Cincinnati, OH. This multifamily property is backed by a $40,800,000 loan provided by J.P. Morgan Chase to facilitate the acquisition by RPM Living. The financing is also aimed at refinancing a previous $41.74 million Freddie Mac loan and an additional $4.02 million supplemental loan, both of which are now defeased. The property is projected to generate $3.6 million in net operating income (NOI) this year.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $40,800,000
• Address: 11513 Village Brook Drive
• Market: Cincinnati, OH
• Units: 274
• Lender: J.P. Morgan Chase
• Landlord: RPM Living

The transaction involves RPM Living acquiring the property from GoldOller Real Estate Investments. This deal reflects a strategic refinancing maneuver facilitated by J.P. Morgan Chase, ensuring continued financial viability and support for the landlord's investment strategy.