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California  + San Diego  + Finance  | 

Meridian Secures $365M Refi for 1,600-Unit Decron California MF Portfolio

New York City-based Meridian Capital Group arranged $365 million to refinance a portfolio of seven multifamily properties in California on behalf of Los Angeles-based Decron Properties. The 10-year Freddie Mac financings, provided by Wells Fargo, feature fixed rates and full-term interest-only payments. The portfolio consisted of seven loans with no cross collateralization required.

Meridian’s Seth Grossman, Jackie Tran and Sarah Kuebler, based in SoCal, negotiated the loan.

Grossman says, “Ultimately, between a combination of a 60-day index lock followed by a 119-day early rate lock, Meridian was able to secure six months of locked rate that allowed proceeds to increase significantly from start to close, as Decron executed their business plan and NOI continued to increase.”

The properties total 1,596 units and include Cypress Creek and Creekside Glen in Walnut Creek; Los Robles and Marlowe in Thousand Oaks; Villas at Wood Ranch and Overlook at Wood Ranch in Simi Valley; and The Reserve at Carlsbad in Carlsbad (pictured).

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Financing
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