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Frederick, MD

Multifamily/Land - Predevelopment

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Frederick, MD

Gambrill View

MULTIFAMILY/LAND - PREDEVELOPMENT

ACRES funded a $11,580,250 million loan which will be used to finance the predevelopment of 62 acres of land corresponding to 492 unfinished lots. The loan will fund first mortgage site development and lot sellout. The ultimate project plan consists of:

  • The loan will provide funding needed to complete all site development/internal lot infrastructure for 127 of 199 total lots for a proposed townhouse and single-family home development
  • Future development of 144 townhouse lots and 55 single-family detached lots

Located in a suburb of Washington D.C., the six-phase, mixed-residential community is on property spanning approximately 90 acres of land. The property is one hour from D.C.’s central business district and accessible to the other suburban D.C. office markets in Maryland such as Bethesda, Rockville, Silver Springs, and Chevy Chase.

$11,580,250 Million

Loan Amount

36 Months

Loan Term

Bridge Loan

Loan Product

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