(To read more on the debt and equity markets, click here.)
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."
The partnership acquired Seasons at Bel Air as part of a three-community portfolio in a $191-million deal earlier this year. Reilly Mortgage group orchestrated the financing--which came in the form of a Freddie Mac loan with a 4.62% interest rate. Once known as the Greenbrier Apartments, the 33-year-old property is a class B garden-style apartment community located off I-95 and about two blocks from Rte. 22.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.