Hirsch, Majeski, Karpel, and Friend of Meridian finance $98 million

Plainsboro, NJ Meridian Capital Group, one of America’s most active debt brokers, arranged $98 million in acquisition financing for the purchase of The Crest at Princeton Meadows, a multifamily property on behalf of Harbor Group and Azure Partners. The seven-year loan, provided by a regional balance sheet lender, features a competitive fixed-rate of 3.75%, two years of interest-only payments followed by a 30-year amortization schedule and a five-year extension option. This transaction was negotiated by Meridian Capital Group senior managing director, Abe Hirsch, managing directors, Moshe Majeski and Zev Karpel, and vice president, Akiva Friend, who are all based in the company’s New York City headquarters. The Crest at Princeton Meadows, located at 3217 Raven Crest Dr., is a garden-style multifamily property totaling 37 three-story buildings with 704 units spanning nearly 41 acres. The property has undergone significant capital improvements since 2012 and is now recognized as the highest quality multifamily community in the Plainsboro area. Azure Partners and Harbor Group International have formed a 50/50 joint venture to acquire The Crest at Princeton Meadows in one of the largest multifamily single asset transactions in the State of New Jersey this year.