Saturday, September 24, 2016

Meridian Capital Group Arranges a $14.25 Million Cash-Out Refinancing For a Multifamily Property in Orlando, FL

Tal Bar-Or
New York, NY – Meridian Capital Group, America’s most active debt broker, arranged $14.25 million in permanent financing for the cash-out refinance of a multifamily property located in Orlando, FL, on behalf of The Styles Group.

The three-year loan, provided by Rialto Mortgage Finance, features a competitive rate and interest-only payments. 

This transaction was negotiated by Meridian Senior Managing Director, Tal Bar-Or, Vice President, Raj Khatiwala and Senior Associate, Kyle A. Kite, who are based in the company’s New York City headquarters.

Southern Oaks Apartments is a recently acquired two-story, 330-unit garden-style multifamily complex, located at 5900 Park Hamilton Boulevard. The property is situated in the heart of Orlando where tenants enjoy close proximity to world-class dining and shopping. Southern Oaks Apartments offers a wide variety of community amenities, including pools, outside fitness areas, on-site laundry facilities and a playground.

Raj Khatiwala
“The borrower increased net-cash flow tremendously in less than a year, which allowed for a very attractive refinance,” explained Mr. Kite. 

“Meridian is pleased to have worked with The Styles Group and Rialto to tailor a solution that allowed the borrower to take advantage of a short-term interest-only loan, to help further execute their business plan,” he added.

 “These favorable loan terms were achieved as a result of the strong sponsorship and highly regarded management of The Styles Group.”

P.R. Steinfurth, Principal of The Styles Group, has over fifteen years of experience in all aspects of the multi-family real estate industry concentrating on acquiring value add properties. 

The firm focuses on increased rents through effective property management and substantial property upgrades.

The Styles Group current market areas for these activities are Florida and Texas. The portfolio of multi-family units currently approximates over 2,500 rental units.

Southern Oaks Apartments, Orlando, FL
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.

Since inception, the company has closed more than $260 billion in financing with the full complement of capital providers, encompassing local, regional and national banks, CMBS lenders, agency lenders, mortgage REITs, life insurance companies, credit unions and private equity funds.

 Meridian arranges financing for many of the world’s leading real estate investors and developers and the company’s expansive platform has specialized practices for a broad array of property types including office, retail, multifamily, hotel, mixed-use, industrial, healthcare, student housing and self-storage properties.

Meridian is headquartered in New York City with offices in New Jersey, Maryland, Illinois, Ohio, Florida and California.
 For a complete copy of the company’s news release, please contact:

Jonathan Stern
Meridian Capital Group


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