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| Sarah Kuebler |
New York, NY – Meridian Capital Group, LLC, a leading
national commercial real estate finance and advisory firm, negotiated a $65
million loan for the refinance of the Park at Siena multifamily property
located in Brandon, FL, on behalf of a partnership between Blue Rock Partners,
LLC, Konover South and Stonecutter Capital Management, LLC.
The five-year CMBS
loan features a competitive fixed-rate and interest-only payments for one-year.
This transaction was negotiated by Meridian Capital Group Managing Director, Seth
Grossman, and Associate, Sarah Kuebler, who are both based in the
Company’s Carlsbad, CA office.
The Park at Siena,
located at 1918 Plantation Key Circle, is composed of two- and three-story
buildings totaling 982 units.
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| Seth Grossman |
“The clients
purchased the property in December 2012 and significantly renovated and
repositioned the property, which drastically increased the net operating
income, in-place rents, and occupancy,” said Mr. Grossman.
“Meridian leveraged the strength of the borrowers and our
relationship with the lender to negotiate a favorable, fixed-rate refinance
only 18 months after the acquisition,” 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 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.
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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