MERIDIAN CAPITAL ARRANGES FINANCING FOR GEORGIA AND NORTH CAROLINA HOUSING PROPERTIES
Charlotte, NC - Meridian Capital Group recently arranged $8,832,000 in financing for the Ashley Apartments, a 266-unit multifamily property located at 5709 Electra Lane. Avi Fuchs of Meridian’s Florida office negotiated on behalf of borrower Bobby Zacharias to secure a rate of 5.87% over a three-year term. Mr. Zacharias intends to invest in the deferred maintenance issues, bringing the property up to full market rents.
Valdosta, GA - Avner Avesar of Meridian’s Florida office recently arranged financing for the College Station Apartments, a 106-unit student housing property located at 1400 Baytree Road. Meridian secured a loan for $7,375,000 benefiting from a rate of 6.25% over a ten-year fixed term.
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.
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