Meridian Capital Group has arranged $72 million in acquisition financing for the purchase of a 13-property self-storage portfolio in various cities throughout AL, GA and TN. The assets feature newly built expansions with concrete foundations, steel framing, metal exterior walls, keypad gated entries and 24-hour video surveillance.
Drew Anderman, Benjamin Nevid and Naphtali Marrus of Meridian negotiated a three-year, interest-only loan provided by H.I.G.
“The client required a creatively structured loan with multiple closings. We were able to structure the loan to close in three separate tranches, and we are proud to have accomplished this in under 40 days,” said Anderman.