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| Sarah Kuebler |
Carlsbad, CA, Oct. 20,
2015, – Meridian Capital Group, America’s most active debt broker, negotiated
two loans totaling $36 million to refinance The Park at Murano and The
Park at Veneto, two multifamily properties located in Fort Myers, FL.
The
refinances were negotiated on behalf of a partnership between Blue Rock
Partners, LLC, Konover South, and Stonecutter Capital Management, LLC.
The five-year loans,
provided by a CMBS lender, feature fixed-rates and 18 months of interest-only,
followed by 30-year amortization schedules.
These transactions were negotiated
by Meridian Managing Director, Seth
Grossman, and Vice President, Sarah
Kuebler, who are both based in the Company’s Carlsbad, CA office.
The Park at Murano and The
Park at Veneto are located at 3891 Solomon Boulevard and 4757 Barkley Circle,
respectively, and together total 512 units. The properties were purchased 18
months ago, and since then, the sponsors have significantly renovated the properties
and meaningfully increased their financial performance.
 |
| Seth Grossman |
These improvements
allowed loan proceeds to be increased dramatically from the acquisition
financings, while locking in interest-only payments at very attractive rates.
“The sponsorship team has
done a phenomenal job improving the assets over the 18 months since acquisition
and was able to take advantage of liquidity in the capital markets and lock in
excellent five-year fixed rate loans,” said Mr. Grossman.
For a complete copy of the company’s news release,
please contact:
Jonathan Stern
Meridian Capital Group
212/972-3600
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