MAPLE SHADE, NJ-The Kamson Corp. has received a refinancing package totaling $80 million for a rental apartment complex in this Philadelphia-area community, GlobeSt.com has learned. The financing is secured by Fox Meadow Apartments, a 1,492-unit complex situated on a 90-acre site.
The financing was arranged by Jon Mikula, senior managing director, and Jim Cadranell, director in the Florham Park office of Holliday Fenoglio Fowler, working on behalf of Kamson Corp. The long-term, fixed-rate loan was provided by John Hancock Financial Services. Further details of the loan were not disclosed.
The property, located at 100 Fox Meadow Dr. near Route 73 and Interstate 295 in this South Jersey community, about 10 miles from Philadelphia. It encompasses a total of 78 separate buildings laid out in clusters of 12 buildings, separated by access roads and wooded areas. The unit mix is made up of one- and two-bedroom units, and the property includes a swimming pool, tennis courts and a day care facility.
Kamson Corp. is an Englewood Cliffs-based apartment management organization with multifamily communities in New Jersey, New York, Pennsylvania and Connecticut.
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