MERIDIAN CAPITAL ARRANGES FINANCING FOR THREE PENNSYLVANIA MULTIFAMILY PROPERTIES
Philadelphia, PA - Meridian Capital Group recently arranged $2,450,000 in financing for Spencer Place Apartments, a 57-unit multifamily property located at 920 West Spencer Street. Russ Drebin and Steven Halpert of Meridian’s New Jersey office negotiated a rate of 6.16% over a ten-year term.
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Lancaster, PA - Abe Schonfeld, also of Meridian’s New Jersey office, closed on the Central Market Hall, a four-story mixed-use building located at 45 North Market Street. The property contains
34 multifamily units, 14 retail spaces and 17,320 square feet of commercial space. Schonfeld secured a loan for $1,824,000 benefiting from a rate of 5.82% over a ten-year term.
Philadelphia, PA – Also closed by Russ Drebin and Steven Halpert was Hammond Gardens, a 46-unit multifamily property located at 7101 North 15th Street. Drebin secured a loan in the amount of $1,520,000 with a rate of 6.16% over a 10-year term.
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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