Baybridge Marina LLP Secures $10 Million Refinance Loan From Fulton Bank For Mixed-Use Property

The property asset involved in this transaction is a mixed-use development located at 337 Pier One Road in Stevensville, MD. The asset has a total square footage of 40,000 and consists of 28 units designed for luxury duplex townhome living.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $10,000,000
• Lender: Fulton Bank
• Landlord: Baybridge Marina LLP
• Brokers: Jared Sobel, Ben Daniels, Scott Kummings & Mike Alexander - Raven Property Advisors
• Loan Type: Refinance
• Loan Terms: 72 Months

The deal was arranged by Raven Capital Advisors on behalf of Bay Bridge Marina LLLP, incorporating a $6 million refinance of an existing term loan along with a $4 million revolving construction line intended to fund Phase I of the new townhome development. This project is strategically positioned adjacent to Bay Bridge Marina, a notable location within the Chesapeake Bay area.