Updated Oct 28, 2024
Ambassador Properties Refinances Dover Multifamily Property With $10.9M Loan
40 Fox Hill Drive, Dover, NJ, USA
$10,900,000
$38/SF
Building Size
282,099 SF
Asset Type
MultiFamily
Closing
Nov 12, 2021
About this deal
AI
The 76-unit multifamily property located at 40-91 Fox Hill Drive in Dover, NJ has recently undergone a refinancing transaction. The property is owned by Ambassador Properties and is managed by Brandon Harris from BlackBearCapitalPartners. The property is a multifamily asset, consisting of 76 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $10,900,000
- Loan Type: Refinance
- Loan Terms: The property was refinanced with a 10-year non-recourse loan, featuring full term interest only and a fixed rate of 3.59%.
- Lender: Sabal
The loan was secured from Sabal and provides the borrower with favorable terms, including a non-recourse loan structure and a fixed interest rate of 3.59%. The loan allows for interest-only payments for the full term of 10 years. This refinancing transaction provides Ambassador Properties with the opportunity to optimize their financing strategy for the multifamily property at 40-91 Fox Hill Drive in Dover, NJ.
Dover MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Brandon Harris to view all their deals.
Browse New Jersey multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.46%
Cash-on-Cash
-0.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93