MERIDIAN CAPITAL GROUP ARRANGES FINANCING FOR OHIO MULTIFAMILY PROPERTY
Dayton, OH - Meridian Capital Group recently arranged $3,565,000 in financing for Willowood Apartments, a multifamily property containing 20 townhomes and 125 units located at 3303 Shiloh Springs Road. Jay Bidnick of Meridian’s New Jersey office negotiated to secure a rate of 6.39% over a ten-year term. The loan amount represented 87% loan-to-cost and the property is 97% occupied.
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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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