Meridian Secures Financing for 24-Building Dallas Community
- Dec 06, 2017
Meridian Capital Group secured a $20.5 million loan for The Georgian, a 288-unit community in Dallas. Capital One Multifamily Finance provided the 15-year fixed-rate Freddie Mac loan. Meridian worked on behalf of the borrower, Legacy Real Estate Development.
The 24-building property, located at 18880 Marsh Lane, features one- and two-bedroom apartments ranging from 609 to 1,042 square feet. Community amenities include a clubhouse, swimming pool, spa, laundry facilities and 400 parking spaces. The multifamily property is situated less than a mile from President George Bush Turnpike and within walking distance of Rosemeade Park Shopping Center. The community also offers convenient access to multiple schools, including Mitchell Elementary School, Furneaux Elementary School and Sheffield Primary School.
Meridian Capital Group’s Managing Director Seth Grossman and Vice President Sarah Kuebler negotiated the financing. According to Yardi Matrix data, Legacy Real Estate Development acquired the multifamily asset in 2010 from Tonti Properties for $15.7 million.
Earlier this year, Grand Street Development and Kamson Corp. selected Meridian to handle the sale of the recently completed Brooklyn Grand, a two-building luxury community in New York City.
Image courtesy of Yardi Matrix