News: Long Island

Meridian Capital secures $27.8 million in financing

Meridian Capital Group, LLC closed the following transactions on Long Island: * Meridian negotiated a new mortgage in the amount of $14 million on a 180-unit multifamily building on North Broadway. The loan features a rate of 5.10% and a 10-year term. The transaction was negotiated by Moshe Majeski. A new mortgage of $13.8 million was placed by Meridian on a 144-unit multifamily building on Nesconset Hwy. in Nesconset. The loan features a rate of 5.10% and a 10-year term. The transaction was negotiated by Abe Hirsch. Founded in 1991, Meridian Capital Group, LLC is one of the nation's largest commercial real estate finance and advisory firms. Meridian is headquartered in New York with offices in New Jersey, Maryland, Illinois, Florida and California. Working with a broad array of capital providers, Meridian arranges financing for transactions ranging from $1 million to more than $500 million for multifamily, co-op, office, retail, hotel, mixed-use, industrial, healthcare, student housing, self-storage and construction properties. www.meridiancapital.com
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Suffolk County IDA supports expansion of A&Z Pharmaceuticals

Hauppauge, NY The Suffolk County Industrial Development Agency (IDA) has granted preliminary approval of a financial incentive package that will assist a manufacturer in expanding its business by manufacturing more prescription (Rx) pharmaceuticals in addition to its existing over-the-counter
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Columns and Thought Leadership
The evolving relationship of environmental  consultants and the lending community - by Chuck Merritt

The evolving relationship of environmental consultants and the lending community - by Chuck Merritt

When Environmental Site Assessments (ESA) were first part of commercial real estate risk management, it was the lenders driving this requirement. When a borrower wanted a loan on a property, banks would utilize a list of “Approved Consultants” to order the report on both refinances and purchases.