GID Credit Advisers Provides $42M Bridge Loan on Salt Lake City Multifamily
The 205-unit Crossing at 9th opened in May in Downtown Salt Lake City
By Brian Pascus October 24, 2025 12:23 pm
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A joint venture involving Arden Group, BlackPines Capital Partners and J-Development Company has secured $41.5 million in bridge financing to refinance Crossing at 9th, 205-unit multifamily apartment complex that opened earlier this year in Salt Lake City, Utah, Commercial Observer has learned.
GID Credit Advisers provided the loan, which will repay a $38.2 million construction loan supplied by Cerberus Capital in 2022, while also funding reserves and closing costs.
The Walker & Dunlop team of Dustin Stolly, Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Ari Hirt and Edward Leboyer arranged the financing.
Located at 800 West 200 Street— near the famous Post and Granary districts and Salt Lake City’s business district — Crossing on 9th opened in May 2025 and is currently in lease-up. The four-story property features 93 studio units, 81 one-bedrooms, 25 two-bedrooms, and six lofts.
Arden Group, BlackPine and J-Development did not respond to requests for comment.
Brian Pascus can be reached at bpascus@commercialobserver.com.
