Cohen and Beyderman of Meridian Capital negotiate $31 million in financing for Dwell Cherry Hill Apartments

Meridian Capital Group, LLC, one of the leading national commercial real estate finance and advisory firms, arranged a $31 million mortgage to refinance the Dwell Cherry Hill Apartments multifamily property on behalf of The Klein Company. The $31 million loan, provided by a regional balance sheet lender, features a competitive fixed-rated of 3.50% and a seven-year term with a five-year option. Meridian senior vice president, David Cohen, and senior vice president, Max Beyderman, who are both based in Meridian's Iselin, NJ office, negotiated this financing. The 233-unit Dwell Cherry Hill Apartments, located at 1982 Marlton Pike East in Cherry Hill, NJ, is a stunning new LEED certified development that was recently stabilized. The Klein Company, the owner of Dwell Cherry Hill Apartments, is a dynamic real estate developer and in 2013 won the Apartment Association of Greater Philadelphia's award for Best in Apartment Living. "We were able to work with the stellar team at The Klein Company to procure timely financing that fully accounts for the strong lease-up velocity," said Beyderman. "Additionally, we capitalized on a dip in U.S. Treasuries to secure very efficiently priced long-term debt right when the property began exhibiting its full potential," said Cohen.