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Meridian Arranges $150M Financing for 10-Asset Mid-Atlantic MF Portfolio
Meridian Capital Group arranged $150 million for the refinance of the Mid-Atlantic Multifamily Portfolio on behalf of AION Partners. The 2,800-unit portfolio includes 10 multifamily properties located in Delaware, New Jersey and Pennsylvania.
The 10-year Freddie Mac loan, provided by Capital One Multifamily Finance, features a LIBOR-based floating rate and five years of interest-only payments. Meridian’s Israel Schubert, David Cohen and Russ Drebin negotiated the financing.
Cohen says, “Meridian was able to leverage the stellar reputation of the sponsor, along with the quality and performance of these well-run assets, to achieve a highly favorable and flexible structure that aligns with the nature of the borrower’s individualized business plan for each property. The loan was structured utilizing a combination of conventional and energy utilization products, as well as specifically tailored loan terms to customize the loan pool across the portfolio to match each asset’s business plan.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing