Monday, June 30, 2014

Meridian Capital Group Arranges $9.9 Million in Acquisition Financing for a Multifamily Property Located in Jacksonville, FL

  
San Pablo Apartments, 14401 Jose Vedra Boulevard
Jacksonville, FL
Boca Raton, FL, June 30, 2014  – Meridian Capital Group, LLC, a leading national commercial real estate finance and advisory firm, negotiated a $9.9 million loan for the purchase of a multifamily property located in Jacksonville, FL.

 The ten-year Fannie Mae loan, provided by an agency lender, features a loan-to-value ratio of 80%, a competitive fixed-rate of 4.69% and interest-only payments for a portion of the loan term.

 This transaction was negotiated by Meridian Capital Group Managing Director, Michael Brown, and Senior Underwriter, Noam Kaminetzky, who are both based in the Company’s Boca Raton, FL office.

 The San Pablo Apartments is a two-story multifamily property totaling 200 units located at 14401 Jose Vedra Boulevard in Jacksonville, FL.

 “Meridian leveraged its strong agency lender relationships to secure a mortgage at 80% loan-to-cost with an interest-only feature in a Fannie Mae pre-review market,” said Mr. Brown. 

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.

Jonathan Stern
 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 Stern
Meridian Capital Group, LLC
212/972-3600

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