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Brokerage
Posted: August 25, 2008
Treitel of Meridian finances $53m for 850,000 s/f mixed-use complex
Meridian Capital Group has arranged $53.2 million in financing for the purchase of Westchester Plaza. Â The 850,000 s/f complex consists of four residential buildings with a total of 698 units. The complex also includes a 75,000 s/f shopping center. Elliot Treitel of Meridian's N.J. office negotiated on behalf of the borrower, Urban American Management, to secure a fixed-rate of 5.5% with the first three years of interest-only payments.
Westchester Plaza occupies the center of a transportation network. The shopping center is home to tenants that include Washington Mutual Bank, Radio Shack and Eckerd.
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