 |
| Part of Royal Properties Portfolio, North Miami, FL |
Boca Raton, FL – Meridian Capital Group, LLC, a leading
national commercial real estate finance and advisory firm, negotiated a $10.9
million mortgage for the purchase of the Royal Properties Portfolio
composed of five multifamily properties located in North Miami, FL on behalf of
a foreign national borrower.
The seven-year,
non-recourse loan was provided by a savings bank and features a fixed-rate of
3.25%. This transaction was negotiated by Meridian Capital Group Managing
Director, Michael Brown, who is located in the Company’s Boca Raton, FL
office.
The Royal Properties
Portfolio consists of five properties, totaling 233 units including: the
51-unit Royal Village located at 13055 NE Sixth Avenue; the 55-unit Royal
Place located at 14050 NE Sixth Avenue; the 59-unit Royal Vista located at 400
NE 137th Street; the 44-unit Royal Point located at 1525 NE 125th Street;
and the 24-unit Royal Courtyard located at 13020 NE Sixth Avenue.
“Meridian was able
to secure flexible financing at a 75% loan-to-value ratio with a lower interest
rate than agency lenders for a foreign national buyer,” said Mr. Brown. “The
financing we negotiated saves the client more than $950,000 over the loan term
as compared with the next best available option,” he added.
For a complete copy of the company’s news release, please
contact:
Jonathan M. Stern
Managing Director
Meridian Capital Group, LLC
1 Battery Park Plaza, 26th Floor
New York, NY 10004
Direct: 212.612.0181
Fax: 212.201.5181
No comments:
Post a Comment