Ambassador Properties Refinances Dover Multifamily Property With $10.9M Loan

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.