Pealmark Provides Mezzanine Loan, Benefit Street Senior Loan for 311-Unit Multifamily Property in Hanover, Maryland, Bristol Court Apartments

4/21/2025

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REBusinessOnline

• Subcategory: Capital Markets: Debt, MF: Market Rate

• Tag: Closing

• Additional Filters-Subcategory: Capital Markets: Debt-Senior Loan, Capital Markets: Mezzanine, MF: Garden

• Company: Pearlmark, Benefit Street Partners (NYSE: BEN)

Pearlmark has provided a mezzanine loan for the refinancing of Bristol Court Apartments, a 311-unit multifamily property in Hanover, roughly 12 miles south of Baltimore. 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.