MERIDIAN CAPITAL GROUP ARRANGES FINANCING
FOR WORCESTER, MA MULTIFAMILY PROPERTY
Worcester, MA - Meridian Capital Group recently arranged $14,360,000 in financing for a 24-story high-rise apartment building located at 600 Main Street. The building contains 196 luxury apartments and was constructed in 1991. The building amenities include a health club, laundry facilities and garage parking. Due to its prime location, tenants are within walking distance from shopping, public transportation, and downtown Worcester. Larry Slavin of Meridian’s New Jersey office negotiated on behalf of the borrower, VTT Management Inc., to secure a rate of 5.72% over a 10-year fixed term.
VTT Management Inc. owns and manages an excess of 1,800 apartment units located in the Northeast, Southeast and Midwest.
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 2,350 transactions in 2007, totaling over $16.5 billion.
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