August 21, 2023 (original publish date*) – MONTICELLOAM, LLC and its affiliates (f/k/a Greystone Monticello LLC), a bridge lending platform intended to serve as a one-stop shop provider of capital finance products and services for the senior housing, healthcare and multifamily sectors, provided a $60,250,000 bridge loan and an $8,000,000 mezzanine loan to refinance The Irby, a Class-A multifamily property located in the Buckhead submarket of Atlanta, GA, and owned by an affiliate of Lone Star Funds, a leading private equity enterprise.
Developed in 2020, The Irby is 12 stories high with 277 residential units (studio, 1-bedroom, and 2-bedroom layouts), 15,000 square feet of retail, and 132 parking spaces. Amenities at the property include a resort-style saltwater pool, elevated courtyard with fire pit and grilling station, private cabanas, 24-hour athletic club & yoga studio, complimentary wine on-tap, sauna, media & game room, on-site pet spa, bike room & repair station, Peloton bikes, high-rise lookout terrace, 24/7 concierge, a curated art program, and more. A bustling professional, shopping, and cultural hub, Buckhead is a growing intown market in Atlanta experiencing steady population growth of 8.7% over the past five years.
“The MonticelloAM team is highly skilled and efficient, creating value for our clients every step of the way. This execution shows the true benefits of MonticelloAM,” added Eric Baum, head of the multifamily sales desk at MonticelloAM.
About MONTICELLOAM, LLC
MONTICELLOAM, LLC and its affiliates (collectively, “MonticelloAM”) is a specialized multifamily and seniors housing lending platform with expertise in providing bridge loans and managing credit risk. MonticelloAM offers bridge, working capital and permanent financing options to properties across the U.S. The firm was founded in October 2014 by Alan Litt, Thomas Lally and Jonathan Litt, who each have over 35 years of industry experience as lenders, investors, developers and owner operators.
To learn more visit www.monticelloam.com.
*This article was originally published on August 21, 2023, when this transaction was completed by a joint-venture partnership between MonticelloAM and a third-party entity. The joint-venture partnership ended effective October 1, 2024.