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| Cazabella Apartments, Gainesville, FL |
New York, NY – Meridian Capital Group, LLC, a leading
national commercial real estate finance and advisory firm, negotiated a $10
million mortgage to refinance the Cazabella Apartments multifamily
property located in Gainesville, FL.
The seven-year,
non-recourse loan provided by a savings bank, features a fixed-rate of 4.13%.
The 75% loan-to-value mortgage was rate-locked at application.
This transaction was negotiated by Meridian Managing
Director, Michael Brown, and Directors, Noam Kaminetzky and Daniel
Bockstoce, who are all based in the Company’s Boca Raton, FL office.
The 146-unit
multifamily garden complex totals six acres and is located at 720 SW 34th
Street in Gainesville, FL.
“Meridian was able to navigate the complexity of this
transaction and structure highly favorable financing to save the client more
than $1 million over the loan term as compared with the next best available
option,” said Mr. Brown.
“While there was a lot of competition for this transaction,
Meridian was able to leverage our unique lender relationships and negotiate
superior transaction terms,” added Mr. Kaminetzky.
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
