Meridian Capital Group’s New Jersey Office Announces Seven Recent Loan Closings Totaling $40.3 Million

Meridian Capital Group, America’s most active debt broker, closed seven transactions in the New Jersey, Connecticut and Pennsylvania markets.

Meridian arranged $12 million in financing for a seven-story multifamily property on Ogontz Street in Philadelphia, PA, consisting of 206-units and one commercial space. The seven-year loan features a fixed rate of 3.50% and was negotiated by Senior Vice President, Russ Drebin.

A new mortgage of $10.5 million was placed by Meridian on the Center Port industrial complex, consisting of 174,800 square feet of space in Newark, NJ. The 30-month loan features a floating rate of 5.25% over the 30-day LIBOR rate. The transaction was negotiated by Senior Vice President, Jay Jacobovitch.

Meridian negotiated $7.1 million in financing for the 181-unit Stone Creek Apartments in East Hartford, CT. The seven-year loan features a fixed rate of 4.36%. The transaction was negotiated by Senior Vice President, Russ Drebin.

A new mortgage of $5.2 million was placed by Meridian on three newly constructed two-story apartment buildings, located on North 49th Street in Philadelphia, PA. The properties total 63 units. The five-year loan, featuring a fixed rate of 3.91%, was negotiated by Vice President, Shalom Krohn.

Meridian arranged $3.1 million in financing for a four-story, 36-unit multifamily property, located on West Seventh Street in Plainfield, NJ. The 10-year loan features a floating rate of 2.25% over the 30-day LIBOR rate. This transaction was negotiated by Managing Director, Marvin Jeremias.
A new mortgage of $1.7 million was placed by Meridian on three single-story commercial properties, totaling 21,395 square feet of space, located on Faraday Avenue in Jackson, NJ. The five-year loan, featuring a fixed rate of 5.25%, was negotiated by Senior Vice President, Jay Jacobovitch.

Meridian negotiated a new mortgage in the amount of $660,000 on a 1,600 square foot triple-net single-tenant office building on Morris Turnpike in Short Hills, NJ. The seven-year loan features a fixed-rate of 3.99%. The transaction was negotiated by Vice President, Charles Nussbaum.

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