West Long Branch, NJ - Meridian Capital Group recently arranged $4,144,000 in financing for a 2-story Medical Office Building on Monmouth Road in West Long Branch, NJ. The building was purchased at over 30% vacant from auction and boasts approximately 57,500 square feet. Max Beyderman and David Cohen of Meridian's New Jersey office managed to secure financing for 80% of the acquisition price with a very tight DSCR, closing the deal at a rate of 6.50% fixed for a 5-year term with no prepayment penalty.

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 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 2,250 transactions in 2008, totaling over $11.5 billion.