Mooney of Meridian negotiates $7.8 million for 8-building portfoilo

Meridian Capital Group, LLC, a leading national commercial real estate finance and advisory firm, negotiated a $7.8 million in mortgages to refinance and renovate an eight-building mixed-use and multifamily portfolio located in the Brooklyn Heights neighborhood. The portfolio was financed in two parts. One loan is a blanket mortgage secured by multifamily properties located on Degraw St., Union St., Prospect Ave., Bergen St. and State St. This loan features a seven-year term and an interest rate of 4.25%. The other loan is secured by two multifamily properties both located on Wyckoff St. and a mixed-use property on Hoyt St. These properties were all financed with a single 15-year self-liquidating loan featuring an interest rate of 4.13%. This transaction was negotiated by Meridian Capital senior vice president, Sean Mooney. "There was a significant amount of competition among lenders to finance this portfolio," said Mooney. "Meridian was able to provide the most favorable terms to the borrower by leveraging its strong banking relationships and market expertise." 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, Arizona 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.