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.