Ryback and Hammer of Meridian Capital Group arrange $7.6 million in acquisition financing

Richmond, VA Meridian Capital Group, one of America’s most active debt brokers, negotiated a $7.6 million mortgage for the purchase of the Chamberlayne Multifamily Portfolio. The $7.6 million, five-year loan, provided by a regional balance sheet lender, features a fixed-rate of 3.44% and one year of interest-only payments. This transaction was negotiated by Meridian associate, Michael Ryback and vice president, Judah Hammer who are both based in the company’s New York City headquarters. The portfolio totals 312 units and is located at 3006, 3814, 3914, 3211, 3207, 3906, 3908, 3910, 3918, 3920, 4216, 4218, 4828 and 4330 Chamberlayne Ave. “Based on Meridian’s long-standing relationship with the lender, we were able to negotiate favorable financing terms for this purchase, including one year of interest-only payments, despite the fact that these assets are located in an area outside of the lender’s typical target market,” said Ryback.