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Harvard Place Apartments in Lithonia, GA

ICER Properties Acquires Six GA Multifamilies with $130M Meridian-Arranged Loan

ICER Properties has acquired six multifamily properties in GA with $130 million in acquisition financing arranged by Meridian Capital Group. The 36-month loan features a LIBOR-based rate with the lender funding a capital improvement program.

“Each property was sourced off market and ICER was able to move quickly and decisively in finalizing these deals,” said Joseph Jemal, ICER Properties president. “It’s a great milestone for us as we continue our expansion in the southeast towards our goal of acquiring 10,000 units in the next two years.”

Located in the Georgia cities of Atlanta, Jonesboro, Lithonia, Morrow and Conyers, the six properties feature a combined total of 1,187 units spanning 1.2 million square feet. Icer has capital improvement plans for each property in order to renovate and provide safe and quality housing for Georgia residents.

Meridian senior managing director Cary Pollack and VP Judah Neuman negotiated the transaction from the company’s New York City headquarters.


Inside The Story

Icer Properties' Jemal

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition
  • ◦Financing
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