Schubert of Meridian Capital arranges $22.5 million for the refinancing of a 350-unit multifamily property

Meridian Capital Group arranged $22.5 million for the refinance of a large multifamily property. The property consists of over 350 residential units. Israel Schubert of Meridian's N.J. office negotiated with a portfolio lender to secure the borrower a non-recourse, 10-year fixed term loan with 30-year amortization schedule at a rate of 5.625%. Founded in 1991, Meridian Capital Group LLC is one of the nation's largest mortgage brokerages serving the multifamily and commercial real estate sectors. The company is based in New York City with additional offices in N.J., Pennsylvania, Maryland, Illinois, Florida and California. Working with a wide variety of lenders, Meridian finances transactions ranging from $500,000 to more than $500 million for multifamily, co-op, office, retail, hotel, healthcare, self-storage, industrial, and construction properties. Nationally, Meridian reported more than 2,250 transactions in 2009, totaling over $11.5 billion.