Meridian Capital Group, America’s most active debt broker, arranged $58 million in CMBS financing for the refinance of the Townhouse Apartments multifamily property located in Stamford, CT.
The 10-year CMBS loan features a competitive fixed rate of 4.31% and full-term interest-only payments. This transaction was negotiated by Meridian Managing Director, Carol Shelby who is based in the company’s New York City headquarters.
Townhouse Apartments is comprised of an eight-story building, located at 65 Prospect Street and a 12-story building, located at 77 Prospect Street in the heart of Downtown Stamford. The property totals 270 residential units and 246 garaged parking spaces. Townhouse Apartments features finished basements and elevators, as well as newly renovated apartment interiors and fitness centers. Tenants enjoy direct access to mass transit, including Stamford Transportation Railroad Center, the Stamford Connecticut Bus Station and efficient routes to all major New York City airports. Townhouse Apartments is within walking distance to a variety of restaurants, shops and attractions, including the Atrium’s Asian Water Garden and the Scalzi Park.
“Townhouse Apartments has become a desirable residential property, due to its updated features and convenient location,” explained Mrs. Shelby. “Lenders recognized the value of this well-located property and Meridian negotiated favorable terms with a competitive fixed rate in an exceptionally short timeframe of three weeks,” she added.
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