The 24-unit garden-style apartment complex located at 1938 SW 31st Avenue in Ocala, FL has recently undergone a refinancing transaction. The property, owned by Red Knight Properties, secured a loan amount of $1,852,500 from VyStar Credit Union. The loan type is a refinance, offering favorable terms to the landlord. The 7-year fixed-rate loan includes interest-only payments, providing a flexible arrangement for Red Knight Properties.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $1,852,500
• Market: Ocala, FL

The brokers involved in this transaction were Matthew Stearns and Zach Lutwak-Fitzgerald from Black Bear Capital Partners. Their expertise played a crucial role in facilitating the refinancing deal for Red Knight Properties. By leveraging their industry knowledge, Stearns and Lutwak-Fitzgerald ensured favorable terms for their client, allowing Red Knight Properties to optimize their investment in the apartment complex.