Outside the Region: Meridian Capital Group arranges 10-year loan for multifamily – $53 million

Hamden, CT Meridian Capital Group arranged $53 million in financing for a multifamily property.

The 10-year loan features a fixed rate that was locked at a spread of 1.58%, with five years of interest-only payments followed by a 30-year amortization schedule. This transaction was negotiated by Meridian managing director, Shaya Ackerman, and senior vice president, Shaya Sonnenschein.

Located at 676 Mix Ave., Broadmoor Apartments consists of 468 studio, one-, and two-bedroom units spread across six, six-story buildings. 

The property has undergone more than $4.1 million in capital improvements since 2014, upgrading the buildings’ exteriors, interiors, and common areas. Broadmoor offers residents community amenities, such as an elegant clubhouse, fitness center, resort-style pool, tennis court, barbecue grill and picnic areas, and access to private parking garages.