MERIDIAN CAPITAL GROUP ARRANGES FINANCING
FOR TEXAS MULTIFAMILY PROPERTY
Houston, TX - Meridian Capital Group recently arranged $6,400,000 in financing for the SunBlossom Cottages. The property contains a two-story garden style apartment complex totaling 253 units and is located at 10300 Harwin Drive. Abe Schonfeld of Meridian’s New Jersey office negotiated on behalf of the borrower, Stone Mountain Properties, to secure a rate of 5.5% over a ten-year term. This loan was the first Sovereign Bank loan to be closed in state of Texas.
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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