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BEL AIR, MD-AG-FCP Seasons I Owner LLC, a unit operating under the management of developer Federal Capital Partners and partner Angelo, Gordon and Co. Federal Capital have closed on a $38.5-million refinancing deal for Seasons at Bel Air Apartments. The 732-unit multifamily property is located at 955-G Sablewood Rd. in Harford County.
The loan, as per the borrower's written statement, allows the company to "replace three loans with varying maturities and sizable pre-payment penalties with one loan that materially lowered our annual debt constant, simplified reporting, increased proceeds and markedly improved our financial flexibility."
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