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Hudson on Farmer Sows Refi of $45M
Refinancing of $45 million was recently arranged for Hudson on Farmer, a class-A multifamily property in Tempe, AZ. The 24-month loan features three 12-month extension options and interest-only payments.
The transaction was negotiated by Meridian Capital Group’s Drew Anderman, David Bollag and Jared Fried, all based in the company’s New York City headquarters.
Located at 707 S. Farmer Ave., the property contains 171 residential units and 4,500 square feet of retail space. The property is newly constructed and along one of Tempe’s main retail corridors, across the street from Whole Foods.
“We were able to secure bridge financing with a very attractive rate and terms while returning equity to the sponsor prior to the stabilization of the property,” said Bollag.
- ◦Financing
