RIPCO Real Estate has arranged a $28.3 million bridge loan for The Arbor College Park, a 134-unit multifamily community at 4800 Berwyn House Road in College Park, Maryland. The property sits adjacent to the University of Maryland on a 4.25-acre site and has recently completed a repositioning from student housing to a modern multifamily offering.
The new financing is structured as a modified upsizing of an existing bridge loan with RMWC, the lender that originally provided a $25.4 million bridge facility for the asset in December 2024. RIPCO previously arranged that initial loan and returned to the market to increase the proceeds as the business plan advanced from redevelopment toward active lease-up.
RIPCO Executive Managing Director Adam Hakim and Managing Director James Murad represented Cape Advisors in securing the upsized bridge loan. The capital is intended to support the next phase of the project, focusing on stabilizing occupancy and ramping up operations following the completion of the redevelopment program.
Originally acquired in late 2024, The Arbor College Park has undergone a comprehensive repositioning that converted it from dedicated student housing into a broader multifamily community. The renovation program delivered 134 newly updated studio, one-bedroom, and two-bedroom apartments with modern finishes designed to appeal to a wider resident base while still leveraging proximity to the nearby university.
The property enhancements extend beyond the unit interiors. The Arbor College Park now offers an expanded fitness center that includes a sauna, co-working spaces for residents, upgraded resident lounges, and landscaped outdoor amenities. In addition, the project includes upgraded building infrastructure, reflecting a full-scale capital improvement effort rather than a limited cosmetic refresh.
By combining a substantial renovation with an upsized bridge facility, the sponsorship is positioned to complete the transition from construction and repositioning to lease-up and stabilization. The arrangement underscores ongoing lender interest in well-located multifamily assets adjacent to major institutional anchors, particularly where significant capital has already been invested and the asset is moving into the income-producing phase.
The Arbor College Park now stands as a reconfigured multifamily community in College Park, with its latest financing package tailored to bridge the asset from its redevelopment period into steady operation.
