MERIDIAN CAPITAL GROUP ARRANGES FINANCING FOR RETAIL PROPERTY IN SALEM, OREGON
Salem, OR - Meridian Capital Group recently arranged financing in the amount of $6,500,000 for the purchase of Westgate Shopping Center, a retail facility with 16 suites located at 505 Taggart Drive, Northwest. Elliot Treitel of Meridian’s New Jersey office negotiated to secure a rate of 6.04% over a ten-year term. The first five years are interest only, while the second five carry a 30-year amortization.
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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