Rosenblum of Meridian arranges $71.1 million for 12-property portfolio

Bronx, NY Meridian Capital Group, one of America’s most active debt broker, negotiated $71.1 million in permanent financing to refinance a mixed-use and multifamily portfolio on behalf of The Morgan Group. The five-year financing package, provided by a regional balance sheet lender, features a rate of 3.13% and three-years of interest-only payments. This transaction was negotiated by Meridian Capital Group vice president, Moe Rosenblum, who is based in the company’s New York City headquarters. The portfolio includes 10 multifamily buildings and two mixed-use properties totaling 568 apartments and seven retail spaces. The properties are located on East 177th St., East 231st St., East 232nd St., West 170th St., Dekalb Ave., Tyron Ave., Marion Ave., Carpenter Ave. and Thieriot Ave. “Portfolio financings such as this are exemplary of Meridian’s long-standing leadership position in the multifamily space in New York City,” said Rosenblum. “We have the unique capability to quickly underwrite the assets, gauge lender interest and negotiate an accretive structure that includes interest-only, while maintaining favorable pricing,” he added.