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| Marsh Oaks Apartments, 2768 SR-A1A, Atlantic Beach, FL |
Boca Raton, FL Oct.15, 2013– Meridian Capital Group, LLC, a
leading national commercial real estate finance and advisory firm, negotiated a
$5.3 million mortgage for the purchase of the Marsh Oaks Apartments
multifamily property located in Atlantic Beach, FL.
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| Marsh Oaks Apartments |
The seven-year,
non-recourse loan features a fixed-rate of 3.50% and was provided by a savings
bank. This transaction was negotiated by Meridian Capital Group Managing
Director, Michael Brown and Director, Noam Kaminetzky, who are
located in the Company’s Boca Raton, FL office.
The 120-unit Marsh
Oaks Apartments is located at 2768 SR-A1A and was built in 1986.
“Interest rates
jumped by over 100 basis points during the time that the loan was being
underwritten and negotiated, but Meridian was able to leverage our significant
market position and relationship with the lender to hold the interest rate from
application through closing,” said Mr. Brown. “This will save the client more
than $500,000 over the loan term,” he added.
Founded in 1991, Meridian Capital Group, LLC is one of the
nation’s largest commercial real estate finance and advisory firms. Meridian is
headquartered in New York with offices in New Jersey, Maryland, Illinois,
Florida, Arizona and California.
Working with a broad array of capital
providers, Meridian arranges financing for transactions ranging from $1 million
to more than $500 million for multifamily, co-op, office, retail, hotel,
mixed-use, industrial, healthcare, student housing, self-storage and
construction properties. www.meridiancapital.com
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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