MF1 Lends $81M for Baltimore-Area Apartment Portfolio
By Andrew Coen April 8, 2026 4:18 pm
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Metropolitan Properties has landed $81.4 million in bridge debt to acquire and refinance a two-property multifamily portfolio in suburban Baltimore, Commercial Observer has learned.
MF1 Capital originated the loan for Volterra Apartments in Pikesville, Md., and Owings Park Apartments in Owings Mills, Md. The two nearby communities are both about 20 miles northwest of Downtown Baltimore.
The financing was structured as a single cross-collateralized deal to refinance past debt on Volterra Apartments, which Metropolitan has owned since 2018, and to fund the acquisition of Owings Park, along with funding upgrades at both properties.
Arrow Real Estate Advisors negotiated the financing with a team led by Ronnie Levine, Jack McPhail and Alex Ellman.
“By combining acquisition financing with the refinance of an existing asset, we created a more efficient capital structure across the portfolio,” Levine, senior adviser at Arrow, said in a statement. “MF1 underwrote both assets holistically and delivered a flexible structure with execution certainty critical to closing the acquisition.”
Gregory Cohen, chief investment officer at Metropolitan Properties, said in a statement that the financing enables the firm to expand its “strategic initiative of expanding into the mid-Atlantic market where fundamentals and supply/demand dynamics remain strong.”
MF1 did not immediately return a request for comment.
Andrew Coen can be reached at acoen@commercialobserver.com.
