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MERIDIAN CAPITAL SECURES FINANCING FOR STRIP CENTER NEAR DOVER DOWNS RACE TRACK IN ONLY 45 DAYS

Dover, DE - Meridian Capital Group recently secured $7,500,000 for the acquisition of a strip retail center located at 1165 North Dupont Highway. The property consists of three big box stores totaling 95,773 square feet of retail space. The property is located next to the popular Dover Downs Race Track and sits
in the middle of a vibrant commercial area. Scott Jackson and Mary Jane Stofik of Meridian’s New Jersey office negotiated rate of 5.20% and a 10-year term. The entire transaction was completed in 45 days.

Founded in 1991, Meridian Capital Group LLC is one of the nation’s largest mortgage brokers 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, and California. 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 this year totaling over $16 billion.