HANOVER, MD. — Pearlmark has provided a mezzanine loan for the refinancing of Bristol Court Apartments, a 311-unit asset in Hanover, roughly 12 miles south of Baltimore. Located within the Oxford Square planned community near the Dorsey MARC passenger rail station, Bristol Court offers one-, two- and three-bedroom apartments.
Residents have access to amenities such as a pool, fitness center, yoga studio, lobby with coworking spaces and a clubroom with an entertainment kitchen and fireplace. Additional amenities include a library, lounge with a pool table, pet spa, foosball and shuffleboard, courtyard with a fire pit and grills, as well as a playroom for children.
Pearlmark originated the loan via its investment fund, Pearlmark Mezzanine Realty Partners VI LP. Benefit Street Partners provided the senior loan for the refinancing. Kevin Tehan of Columbia National Real Estate Finance LLC arranged the financing on behalf of the owner and developer, Preston Scheffenacker Properties.