Thursday, March 24, 2016

Meridian Capital Group Arranges $8.75 Million in CMBS Financing for the Purchase of Four Short-Term Rental Properties Located in Miami Beach, FL


 New York, NY – Meridian Capital Group, America’s most active debt broker, arranged $8.75 million in CMBS financing for the acquisition of four multifamily properties in Miami Beach, FL.

The 10-year loan, provided by a CMBS lender, features a competitive fixed-rate and five years of interest-only payments. This transaction was negotiated by Meridian Managing Director, Noam Kaminetzky, who is based in the Company’s Boca Raton, FL office.

The four multifamily properties total 31 units and are of only a few nearby properties that currently hold hotel licenses for short-term rental use. Located in the South Beach neighborhood at 1536 Jefferson Avenue, 1440 Pennsylvania Avenue, 1534 Euclid Avenue and 1032 Michigan Avenue, the properties are situated just blocks from Miami’s trendiest restaurants, nightclubs, beaches and boutiques.

“The borrower had this deal in process with another lender who changed the structure with less than 30 days before the scheduled closing,” explained Mr. Kaminetzky. “When approached by the sponsor, Meridian secured a term sheet within days and quickly closed the loan in a tight timeframe,” he added.

Founded in 1991, Meridian Capital Group is America’s most active debt broker and one of the nation’s leading commercial real estate finance advisory firms. 

In 2015, Meridian closed over 3,900 loans totaling more than $35 billion in transaction volume with 210 unique lenders, equating to $135 million per business day. 

For a complete copy of the company’s news release, please contact:

Jonathan Stern
Meridian Capital Group

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