December 4, 2017
Meridian Capital Group, America’s most active dealmaker, arranged $20.5 million in financing for The Georgian, a 288-unit multifamily property in Dallas, TX. The 15-year fixed-rate Freddie Mac loan, provided by Capital One Multifamily Finance, was negotiated by Meridian Managing Director, Seth Grossman, and Vice President, Sarah Kuebler, who are both based in the company’s Carlsbad, CA office.
“The sponsor is a family office that was looking to secure a long-term loan with a very competitive fixed interest rate,” said Mr. Grossman. “Meridian presented multiple financing options with competitive fixed-rate terms of seven-to-20 years, and the sponsor ultimately determined that the 15-year agency loan would work best for their business plan,” he continued.
The Georgian, located at 18880 March Lane, is a three-story multifamily property with fully equipped kitchens, generous closet space, central heating and cooling, and living and dining rooms with a large patio or balcony. The building contains one- and two-bedroom apartments in five different layouts and offers various features which may include faux-hardwood flooring, white cabinetry, stainless steel appliances, recessed bookshelves, and a fireplace and a stacked washer and dryer in select units.
Located 25 minutes north of Downtown Dallas, The Georgian is conveniently close to the best amenities and attractions the city has to offer, and in close proximity to the Addison Airport, the Dallas Fort Worth International Airport, and the Dallas Love Field Airport. The property is minutes away from The Shops at Willow Bend, home to national brands like Apple and H&M, the Galleria Dallas, a gorgeous building with a vaulted glass ceiling modeled after the historic Galleria Vittorio Emanuele II in Milan, Italy, a popular lifestyle destination, home to more than 200 stores, and an ice skating rink. In addition, residents can also enjoy an array of restaurants, bars, and recreational areas, including as the White Rock Creek Park, the golf course at the Northwood Club, and the Fretz Recreation Center. Other nearby attractions include, Barnes & Noble, Cinemark Movies 10, Tony’s Pizza and Pasta, the Fadis Mediterranean Grill, and Dickey’s Barbecue Pit.
Founded in 1991, Meridian Capital Group is America’s most active deal maker and one of the nation’s leading commercial real estate finance and investment sales firms. In 2016, Meridian closed $35 billion in loan volume and sold over $2 billion in commercial properties. Since inception, the company has closed more than $270 billion in financing with the full complement of capital providers, encompassing local, regional and national banks, CMBS lenders, agency lenders, mortgage REITs, life insurance companies, credit unions and private equity funds. Meridian represents many of the worldâ€™s leading real estate investors and developers and the company’s expansive platform has specialized practices for a broad array of property types including office, retail, multifamily, hotel, mixed-use, industrial, healthcare, student housing and self-storage properties. Meridian is headquartered in New York City with offices in New Jersey, Maryland, Illinois, Ohio, Florida and California. www.meridiancapital.com