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| Israel Schubert |
Boca Raton, FL, Aug. 25, 2015, – Meridian Capital Group,
America’s most active debt broker, negotiated a $15 million mortgage for the
purchase of the Berkshire Reserve
multifamily property located in Naples, FL on behalf of Axonic Capital.
The five-year loan,
provided by a regional balance sheet lender, features a competitive fixed-rate
of 3.125% and a flexible prepayment penalty.
This transaction was
negotiated by Meridian Senior Managing Director, Israel Schubert, and Vice President, Brad Beattie, who are based in the Company’s Iselin, NJ and Boca
Raton offices, respectively.
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| Brad Beattie |
Constructed in 2001,
Berkshire Reserve is a townhome-style community that totals 146 units and is
located at 3536 Winifred Row Lane in Naples, FL.
The property contains 37
two-story buildings situated on landscaped grounds with a central lake and
fountain. Property amenities include a swimming pool, large sundeck and lounge
area, playground, barbeque grill, picnic area and carports.
Berkshire Reserve is in close proximity to Golden
Gate Community Park which houses a fitness center, Olympic-sized pool with
diving area and a children’s pool, baseball and softball fields, a
soccer/football field, tennis courts, basketball courts, racquetball courts,
shuffleboard courts and a community center for other activities.
“In addition to obtaining
an aggressive 75% loan-to-value, non-recourse bank loan, Meridian was able to
negotiate a prepayment penalty that declines to 1% in the event of sale at any
point over the term of the loan,” said Mr. Beattie.
For a complete copy of the company’s news release,
please contact:
Jonathan Stern
Meridian Capital Group
212/972-3600
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