Meridian Capital Group, one of America's most active debt brokers, arranged financing for 15 loans totaling $43.5 million for multifamily, mixed-use, cooperative, commercial condominium, shopping center and warehouse properties located across New York, Brooklyn, Queens and the Bronx, as well as NJ , CT and NV. These transactions were negotiated by Meridian vice president, Judah Hammer, who is based in the company's New York City headquarters.
These recent closings took place over the course of 15 business days, averaging one loan closing per day for Hammer. The financing, provided by a mix of local balance sheet, CMBS and bridge lenders, ranged in size from $1.3 million to $11.8 million. The properties, in combination, total 354 residential units, 63,500 s/f of retail space and 128,400 s/f of warehouse space. Year-to-date in 2015, Hammer has closed a total of 44 loans totaling more than $160 million, averaging nearly two transactions per week.
Hammer's recent financings include an $11.8 CMBS million loan for the North Park Shopping Center, a 53,700 triple-net leased shopping center located in Bridgeport, CT. This 10-year loan features a competitive fixed-rate of 4.38% and four years of interest-only payments. Meridian Capital Group Associate, Michael Ryback, worked on this transaction with Mr. Hammer.
For separate sponsorship, Mr. Hammer also closed a $3.9 million CMBS loan for a shopping center located at 7785 North Durango Drive in Las Vegas, NV. The 10-year loan features a fixed-rate of 4.40% and a 30-year amortization schedule. The shopping center contains 12 retail spaces totaling 16,110 square feet with tenants including 7-Eleven, Little Caesars and Dairy Queen.
"With so much liquidity and such a broad array of lenders competing in today's market, it's important provide clients with access to a full suite of programs and products," said Mr. Hammer. "Over the last few weeks, my team and I have closed loans of all sizes across the tri-state area with a variety of lenders including savings banks, CMBS and bridge lenders," he added. Tags: