MERIDIAN CAPITAL GROUP’S NEW JERSEY OFFICE ARRANGES FINANCING FOR TWO MULTI PROPERTIES IN PENNSYLVANIA
Whitehall, PA - Meridian Capital Group recently arranged financing in the amount of $7,500,000 for the Orchard Drive Estates, a 264-unit complex located at 1239 Washington Street. Meridian’s Abe Schonfeld negotiated on behalf of borrower Duchess Consultants to secure a rate of 5.6% over a ten-year term.
Philadelphia, PA – Also closed through the New Jersey office was the Haldeman Manor Apartments, a 91-unit multifamily property located at 10714 Haldeman Avenue. Meridian’s Russ Drebin secured $5,200,000 in financing and negotiated a rate of 5.67% over a ten-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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