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| Eric Trombly |
New York, NY, Sept. 14,
2016, – Meridian Capital Group, America’s most active debt broker, arranged $4
million in construction financing for the development of a luxury multifamily
property located in Miami Beach, FL.
The five-year,
interest-only construction loan, provided by a local balance sheet lender,
features a fixed-rate of 4.50%. This transaction was negotiated by Meridian
Vice President, Eric Trombly, who is
based in the company’s Boca Raton, FL office.
Nobe Marina is planned to
be a five-story luxury multifamily development, located at 8425 Crespi
Boulevard in a low-rise residential area of Miami Beach, between South Beach
and Bal Harbor.
This property offers the
rare opportunity to develop a new construction building in a historic district
of Miami Beach. Nobe Marina will be a waterfront property comprised of 16
two-story loft apartments with oversized terraces facing the Tatum Waterway.
The luxury apartments will
feature panoramic views of the ocean and downtown Miami. Nobe Marina’s
amenities will include 10 boat slips and 26 secured garage parking spaces.
“Our client is an
experienced real estate investor but this is his first foray into multifamily
development,” explained Mr. Trombly. “We leveraged our strong lending
relationship with a local bank to successfully fund this exceptional project in
an area that has limited luxury rental apartments,” he added.
For a complete copy of the company’s news release,
please contact:
Jonathan Stern
Meridian Capital Group
212/972-3600
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