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Brokerage
Posted: October 28, 2013
Lefkowitz and Jacobvitch of Meridian negotiate $5.5 million mortgage refinance
Meridian Capital Group, LLC, a leading national commercial real estate finance and advisory firm, negotiated a $5.5 million mortgage for the refinancing of the Manayunk Self Storage property.
The 10-year CMBS loan features a fixed-rate of 5.27%. This transaction was negotiated by Meridian Capital Group senior vice president, Barry Lefkowitz and associate, Jay Jacobovitch, who are both located in the company's Iselin, N.J. office.
The five-story industrial property is located at 116 Fountain St. and totals 794 storage units in 65,700 s/f.
"The sponsor was seeking long-term, non-recourse financing and Meridian canvased the CMBS lending market to identify a lender who could provide exactly what the sponsor required," said Lefkowitz.
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