Bridge Investment Group Secures $132 Million Financing For 386-Unit Multifamily Project In Richmond VA

The property asset involved in this transaction is a multifamily residential building located at 2910 North Arthur Ashe Boulevard in Richmond, VA, comprising 386 units. The total capitalization of the project is $132,000,000, with a loan amount of $85,600,000 and equity raised amounting to $46,400,000.

Summary of transaction details:

• Property Type: Construction Equity & Debt
• Transaction Amount: $132,000,000
• LP Equity: Bridge Investment Group
• Lender: Samir Tejpal - Madison Realty Capital
• Landlord: Scott Allen - AIP, Tristan Nadal - Points Five & David Coehlo - Bridge LP
• Brokers: Mo Beler, Jonathan Paine, Cory Elbaum, Jackson Irwin, Jonathan Schwartz, Aaron Appel & Michael Brown - Walker & Dunlop

This transaction involves a notable collaboration among various stakeholders in the real estate finance sector. The lenders and investors, led by Samir Tejpal from Madison Realty Capital and Bridge Investment Group, respectively, partnered with a team of brokers from Walker & Dunlop to facilitate the financing of this multifamily development project.