ORLANDO, FL - Meridian Capital Group has arranged a loan in the amount of $2,800,000 for the purchase of the Hillcrest Hampton Apartments (photo at left). Eric Fixler of Meridian’s Florida office negotiated on behalf of the borrower, Elevation Properties LLC, to secure a rate of 5.84% over a 10-year term.The transaction required HUD approval, which was delivered in record time. This is the third deal closed by Meridian on behalf of the borrower.
Hillcrest Hampton Apartments is a 14 story high-rise building with 103 one-bedroom units and 53 efficiencies. In addition, the facility has four main common areas where there are TV rooms, chapels, public kitchens, meeting rooms and a suite of offices. The building is located at 2000 Hillcrest Street in Orlando FL and is a HUD senior living facility. The property will have use restrictions through February 2012.
Elevation Properties LLC is a multi-family and senior housing and investment firm located in the Orlando area.
Contact:
Dani Sabesan
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