Midtown Capital Secures $31.5 Million Bridge Loan From RMWC For 149-Unit Multifamily Project

The asset involved in this transaction is a multifamily property with 149 units located at 11 North 800 West in Salt Lake City, UT. The bridge loan secured is valued at $31,500,000, allowing the completion of the apartment project known as The Astoria, set to open in the third quarter of 2025.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $31,500,000
• Asset Address: 11 North 800 West
• Market: Salt Lake City, UT
• Units: 149
• Lender: RMWC
• Landlord: Midtown Capital
• Loan Type: Bridge
• Brokers: Brad Williamson, Matthew Robbins, Mitch Sinberg, Patrick Johnson & Scott Wadler - Berkadia

The deal involved a collaboration among several brokers from Berkadia, including Brad Williamson, Matthew Robbins, Mitch Sinberg, Patrick Johnson, and Scott Wadler. Their efforts facilitated the acquisition of the bridge loan from RMWC for Midtown Capital, ensuring the project's funding needs are met.