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| Shelby Crossing Apartments, 500 La Fontenay Court, Louisville, KY |
Boca Raton, FL, Oct. 3, 2013 – Meridian Capital Group, LLC,
a leading national commercial real estate finance and advisory firm, negotiated
a $4.7 million mortgage for the purchase of the Shelby Crossing Apartments
multifamily property in Louisville, KY.
The 10-year loan
features a competitive fixed-rate of 4.25% and was provided by a CMBS lender.
This transaction was negotiated by Meridian Capital Group Director, Noam
Kaminetzky, who is based in the Company’s Boca Raton, FL office.
The Shelby Crossing
Apartments is located at 500 La Fontenay Court and is composed of seven
two-story buildings totaling 90 units on 6.25 acres of land. Amenities include
tennis courts, a swimming pool, fitness center, clubhouse and laundry facility.
“Agency lenders, the
natural choice for a property like this, had challenges structuring around the
perpetual use agreement for the amenities,” said Mr. Kaminetzky. “As a result,
Meridian creatively worked to overcome these obstacles with a CMBS lender,” he
added.
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, Arizona 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
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
jstern@meridiancapital.com
Direct: 212.612.0181
Fax: 212.201.5181
www.meridiancapital.com
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