MERIDIAN CAPITAL ARRANGES $18,300,000 IN FINANCING FOR TWO NEW JERSEY PROPERTIES
East Brunswick, NJ - Meridian Capital Group recently arranged $9,200,000 in financing for the Village Green Shopping Center, a 56,766 square foot retail property located at 415 Route 18. Abe Schonfeld of Meridian’s New Jersey office negotiated a rate of 6.36% over a ten-year term. The loan survived the market strain in August and was quickly converted from a Wall Street lender to a savings bank loan and closed within 40 days.
|
 |
Mansfield, NJ - Emil DePasquale, also of Meridian’s New Jersey office, closed on Mansfield Square Village, a mixed-use building located at Route 206 and White Pine Road. The property contains 42,667 square feet of medical office space and 21,333 square feet of retail. Depasquale secured a construction loan for $9,100,000 with a rate of 7.8% over a 36-month term plus a three-year fixed permanent loan with a seven-year option. During the construction portion, the loan is interest-only.
Founded in 1991, Meridian Capital Group LLC is one of the nation’s largest mortgage brokerages serving the multifamily and commercial real estate sectors. The company is based in New York City with additional offices in New Jersey, Pennsylvania, Maryland, Illinois, Florida, California, and Texas. Working with a wide variety of lenders, Meridian finances transactions ranging from $500,000 to more than $500 million for multifamily, co-op, office, retail, hotel, healthcare, self-storage, industrial, and construction properties. Nationally, Meridian reported more than 2,500 transactions in 2006, totaling over $17 billion. |
|
