Boca Raton, FL, Oct. 9, 2013, – Meridian Capital Group, LLC, a leading national
commercial real estate finance and advisory firm, negotiated a $13.5 million
mortgage for the purchase of The Park at Moss Creek Apartments
multifamily property located in Jackson, MS.
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| The Park at Moss Creek Apartments Jackson, MS |
The seven-year loan features a competitive fixed-rate of
4.55% and was provided by an agency lender. This transaction was negotiated by
Meridian Capital Group Director, Noam Kaminetzky, who is based in the
Company’s Boca Raton, FL office.
The Park at Moss
Creek Apartments is located at 5000 Ridgewood Road and contains 33 buildings
totaling 393 units.
“As the deal
approached closing, the interest rate environment skyrocketed, severely
impacting cash flow and loan proceeds,” said Mr. Kaminetzky.
“With the borrower having to close quickly, Meridian worked
with the lender to restructure the loan to minimize the impact on the
borrower’s loan terms, while maintaining the integrity of the loan,” he added.
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
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