News:
Brokerage
Posted: October 7, 2013
Friedman of Meridian Capital Group arranges $16.7 million in permanent financing for 12 multifamily and mixed-use properties
Meridian Capital Group, LLC, a leading national commercial real estate finance and advisory firm, negotiated a $16.7 million mortgage to refinance a 12-property multifamily and mixed-use portfolio located in the Bronx, NY.
The 12-year balance sheet loan features a fixed-rate of 3.25% and was provided by a regional balance sheet lender. This transaction was negotiated by Meridian Capital Group senior vice president, Alan Friedman, who is based in the Company's New York City headquarters.
The portfolio is composed of four multifamily buildings and eight mixed-use buildings totaling 188 units and 10 stores, all located on Brook Ave.
"To close this loan on an expedited basis, Meridian collaborated with the lender in order to get them comfortable with the government assistance program in place at several of the properties," said Friedman. "As a solutions-oriented advisor, Meridian quickly negotiated the financing and closed in the borrower's specified timeframe," he added.
Tags:
Brokerage
MORE FROM Brokerage
REALM, DelShah Capital and A.M. Properties acquire 377,000 s/f CitySpire office condominium
Manhattan, NY REALM, in partnership with DelShah Capital and A.M. Properties, acquired CitySpire, a 377,000 s/f office condominium comprising 24 floors within the 70-story tower at 156 W 56th St. in Midtown. Adjacent to Central Park with transit access and amenities, CitySpire is a Class A office asset located in one of the city’s most sought-after office corridors.
Columns and Thought Leadership
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman
July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.