ORIX USA’s Real Estate Investment Strategies group announced the closing of a $23.99 million first mortgage bridge loan to support Ridgehouse Companies and Larson Capital Management refinance the current construction loan and support the lease-up and stabilization of Norwood located in Huntsville, AL.
“This transaction highlights our strength in structuring flexible capital solutions that support our clients’ strategic objectives,” said Stephen Klufas, Managing Director, ORIX USA. “By supporting Ridgehouse Companies and Larson Capital Management through the lease-up and stabilization of Norwood, we’re helping position the property for long-term success in the growing Huntsville market.”
Norwood is a 177-unit multifamily community that was completed in September 2024 and is currently 60%+ leased. The community offers a robust amenity package including a resort-style pool, fitness center, outdoor yoga area, car charging stations, and a clubroom lounge.