Meridian Capital Group, America’s most active dealmaker, arranged $29 million in agency financing to refinance the Creekstone Apartments multifamily property in Nashville, TN, on behalf of White Eagle Property Group.
The 12-year Fannie Mae loan, provided by Capital One Multifamily Finance, features a fixed rate of 4.23% and six years of interest-only payments. This transaction was negotiated by Meridian Managing Director, Jacob Katz, who is based in the company’s Baltimore, MD office and Managing Director, Zev Karpel and Associate, Daniel Hofstedter, who are both based in the company’s New York City headquarters.
“Because of the property’s central location and its well-maintained amenities, the client immediately recognized the opportunity to acquire an asset at a favorable basis and enhance operational performance by applying their property management expertise,” said Mr. Katz. “White Eagle Property Group’s diverse portfolio and proven track record helped Meridian negotiate favorable terms and six years of interest-only payments.”
Creekstone Apartments, located at 266 Stewarts Ferry Pike, is a 316-unit garden-style multifamily property in Nashville, TN. The property sits on approximately 23.6 acres of wooded land and totals 260,950 square feet of residential space. Amenities include a 568-space parking lot, a business center, a clubhouse, a laundry facility, a fenced dog park, an outdoor swimming pool, a barbeque area, two tennis courts, and a volleyball court. Each unit features vaulted ceilings and wood burning fireplaces. Select units offer a washer and dryer and private patios. Creekstone Apartments’ prime location offers direct access to the Stewarts Ferry Pike near Percy Priest Lake, Interstate 40, and the Nashville International Airport. Residents also enjoy close proximity to Nashville’s major attractions, including the Grand Ole Opry, Opry Mills Mall, and Downtown Nashville.
About Capital One
Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N.A., had $239.8 billion in deposits and $350.6 billion in total assets as of June 30, 2017. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels. Capital One, N.A. has branches located primarily in New York, Louisiana, Texas, Maryland, Virginia, New Jersey and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol “COF” and is included in the S&P 100 index.
About Meridian Capital Group
Founded in 1991, Meridian Capital Group, LLC is one of the nation’s largest commercial real estate finance and advisory firms. Meridian is headquartered in New York with offices in New Jersey, Maryland, Illinois, Florida and California. Working with a broad array of capital providers, Meridian arranges financing for transactions ranging from $1 million to more than $500 million for multifamily, co-op, office, retail, hotel, mixed-use, industrial, healthcare, student housing, self-storage and construction properties. www.meridiancapital.com