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Brokerage
Posted: January 12, 2015
Schmuckler of Meridian arranges $30 million in permanent financing; Four multifamily properties totaling 260 units
Meridian Capital Group, LLC, one of the leading national commercial real estate finance and advisory firms, negotiated a $30 million mortgage for the purchase of four multifamily properties located in the Bay Ridge and Midwood neighborhoods of the borough.
The 20-year self-liquidating loan features a competitive fixed-rate of 3.75% and was provided by a local savings bank. This transaction was negotiated by Meridian Capital Group vice president, Jacob Schmuckler, who is based in the company's New York City headquarters.
The four multifamily properties total 260 units and are located at 465-476 84th St. in Bay Ridge and 2566 Ocean Ave., 1745 East 12th St., and 1811 Quentin Rd. in Midwood.
"Given the outstanding locations of the properties and the strength and experience of the sponsor, Meridian was able to leverage our significant relationship with the lender to tailor a flexible acquisition financing structure for these assets," said Schmuckler.
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