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| 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.
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| 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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