Brooklyn, NY Meridian Capital Group arranged $11.7 million in financing to refinance one of Iris Holdings Group’s affordable workforce housing projects.
The 10-year Freddie Mac loan features a floating rate and two years of interest-only payments followed by a 30-year amortization schedule. This transaction was negotiated by Meridian managing director, Isaac Filler, and associate, Yossi Koschitzki.
The properties are located at 189-191-193 Jefferson Ave. and 39 and 44 MacDonough St. in the Bedford-Stuyvesant neighborhood.
Residents benefit from proximity to shops, restaurants, and bars, as well as various transportation options, including the A and C subway lines and the Long Island Rail Road at the Nostrand Ave. station.
Iris Holdings Group is an active nationwide affordable housing developer and investor with several similar projects in the five boroughs.