New York, NY
38-Unit Multifamily Property
Financing Amount: $10,600,000
Secure senior acquisition financing at favorable terms, including an allowance for $2,200,000 in additional mezzanine financing, with both loans being negotiated simultaneously in a time-of-the-essence transaction.
Meridian rate-locked the deal within days of submitting the relevant applications, providing certainty of execution well within the 50-day transaction window by leveraging our in-house expertise to efficiently coordinate between the savings bank providing the senior financing, the mezzanine lender, the third-party service providers and counsel to all parties in order to consummate all elements of the required financing consistent with the client’s deadlines.