MCB Real Estate-led partnership secures final $6.3 million for Markley renovation
WSBC•An MCB Real Estate-led partnership secured the final $6.3 million in financing for the Markley building renovation in Baltimore. The financing includes a $2.5 million construction loan, a $2.7 million bridge loan and a $1.1 million investment.
1. Renovation financing
The financing includes a $2.5 million construction loan from Wesbanco, a $2.7 million bridge loan from Neighborhood Impact Investment Fund and a $1.1 million investment from Reimagine Development Partners as the federal historic tax credit investor. The redevelopment is planned to include 19 residential units and approximately 900 square feet of street-level retail, with delivery expected next summer.
