Howell, NJ - Meridian Capital Group recently arranged $5,000,000 for the refinance of The Storage Bin. The property contains a total of 832 storage units and is located on 2464 Route 9 South in Howell, NJ. Josh Gorsky of Meridian's New Jersey office negotiated on behalf of the borrower to secure a 5-year fixed term at a rate of 6.25%.

This property was the borrowers first self-storage purchase 15 years ago. This facility underwent a significant Phase II expansion approximately 5 years ago. Phase II incorporated a climate controlled portion, and nearly doubled the amount of original units. The borrower owns and operates 9 other self-storage locations in NJ and PA doing business under the same name, The Storage Bin.

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