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MonticelloAM Provides $37.85 Million Bridge Loan For 240-Unit Bayville Apartments In Virginia Beach

Property Image
FINANCED
$37,850,000

Virginia

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MultiFamily
Financed 10/10/2025
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Property Image
FINANCED

MonticelloAM Provides $37.85 Million Bridge Loan For 240-Unit Bayville Apartments In Virginia Beach

1512 Kindly Lane

See Similar Deals
MultiFamily
Financed 10/10/2025
the dealplayerscompscontact
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Summary

VIRGINIA
Asset Type:MultiFamily
Transaction Type:Loan

The asset involved in this transaction is the Bayville Apartments, a multifamily property located at 1512 Kindly Lane in Virginia Beach, VA. The complex consists of 240 units, with a loan amount of $37,850,000 secured for its financing. Constructed in 1971, the property has undergone recent renovations and offers one- to three-bedroom units, with rents starting at $1,535.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $37,850,000
  • Market: Virginia Beach, VA
  • Lender: Monticelloam
  • Broker: JLL
  • Loan Type: Bridge
  • Units: 240
  • Year Built: 1971
  • Renovated: Yes
  • Rents Starting At: $1,535

This transaction highlights the involvement of MonticelloAM as the lender, providing a bridge loan for the property, while JLL facilitated the financing arrangements. The property reflects strategic investment moves within the multifamily market in Virginia Beach.

Players

JLL
JLL
BROKERAGE
Monticelloam
Monticelloam
LENDER

Details

FINANCED
IMAGE: 10/10/2025 ADDRESS: 1512 Kindly Lane MARKET: Virginia Beach, VA ASSET TYPE: Multifamily ~ UNITS: 240 LENDER: Monticelloam BROKER: JLL LOAN AMOUNT: $37,850,000 LOAN TYPE: Bridge NOTE: MonticelloAM provided a $37.85 million bridge loan for the 240-unit Bayville Apartments in Virginia Beach, Va., with JLL arranging the financing. The 1971-built complex, recently renovated, offers one- to three-bedroom units with rents starting at $1,535.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$37,850,000.00

Monthly NOI$252,333.33
Monthly Debt Service$239,237.75
Change in Cash Flow$0.00
Refinance Proceeds$0.00