Wednesday, September 14, 2016

Meridian Capital Group Arranges $4 Million in Construction Financing for a Luxury Multifamily Property Located in Miami Beach, FL

Eric  Trombly
New York, NY, Sept. 14, 2016, – Meridian Capital Group, America’s most active debt broker, arranged $4 million in construction financing for the development of a luxury multifamily property located in Miami Beach, FL.

The five-year, interest-only construction loan, provided by a local balance sheet lender, features a fixed-rate of 4.50%. This transaction was negotiated by Meridian Vice President, Eric Trombly, who is based in the company’s Boca Raton, FL office.

Nobe Marina is planned to be a five-story luxury multifamily development, located at 8425 Crespi Boulevard in a low-rise residential area of Miami Beach, between South Beach and Bal Harbor.

This property offers the rare opportunity to develop a new construction building in a historic district of Miami Beach. Nobe Marina will be a waterfront property comprised of 16 two-story loft apartments with oversized terraces facing the Tatum Waterway.

The luxury apartments will feature panoramic views of the ocean and downtown Miami. Nobe Marina’s amenities will include 10 boat slips and 26 secured garage parking spaces.

“Our client is an experienced real estate investor but this is his first foray into multifamily development,” explained Mr. Trombly. “We leveraged our strong lending relationship with a local bank to successfully fund this exceptional project in an area that has limited luxury rental apartments,” he added.

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

Jonathan Stern
Meridian Capital Group

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