TODAY’S DEALS: Meridian Negotiates Loans Totaling $72.6M for Properties in NYC
New York—Meridian Capital Group LLC extended financings totaling $72.6 million to mixed-use, multifamily and cooperative properties in Manhattan, Brooklyn and Queens, N.Y.
- Meridian negotiated a new mortgage in the amount of $32 million on two multifamily buildings totaling 153 units located on West 106th Street in New York. The loan features a rate of 3.00 percent. and a 15-year term. Michael Kesselman negotiated this transaction.
- New mortgages totaling $18.9 million were placed by Meridian on six multifamily buildings totaling 134 units located on 15th Street, Seventh Avenue, Eighth Avenue, 11th Street, First Street and Church Avenue in Brooklyn, N.Y. The loans feature a rate of 3.00 percent and a 10-year term. Morris Diamant and Joe Klein negotiated this transaction.
- Meridian negotiated a new mortgage in the amount of $8 million on five multifamily buildings totaling 66 units located on Barclay Avenue in Flushing, N.Y. The loan features a rate of 3.00 percent and a 10-year term. Joe Taub negotiated this transaction.
- A new mortgage of $5.5 million was placed by Meridian on two mixed-use buildings totaling 21 units and 2,370 square feet of retail space located on Mott Street in New York. The loan features a rate of 3.13 percent and a 12-year term. Morris Diamant and Joe Klein negotiated this transaction.
Grandbridge arranges $17.7M CMBS loan for property in Missouri
Springfield, Mo.—Grandbridge Real Estate Capital recently closed a $17,700,000 first mortgage loan secured by Weaver Creek Apartments, a 254-unit multifamily property in Springfield, Mo. The refinance was originated by Kansas City-based Vice President Frank Sciara.
Funding for the fixed rate loan was provided through one of Grandbridge’s CMBS investors and was structured with a 10-year term, 25-year amortization and one year of interest only. Property amenities include a resort-style swimming pool, fitness center, business center and game room.