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Meridian Arranges $38M Financing on Bronx Portfolio
Meridian Capital Group arranged $38 million in financing to refinance a multifamily portfolio of nine properties in the Bronx. The 10-year loan, provided by a savings bank, features a fixed rate of 3.00% for the initial five years, three years of interest-only payments and a flexible prepayment penalty.
The transaction was negotiated by Meridian managing director Scott Assouline and VP Isaac Lifshitz, both based in the company’s New York City headquarters.
“While there have been rent stabilized multifamily properties in the five boroughs that have been adversely impacted by the pandemic, it was apparent in negotiating this financing that the hands-on ownership and management of the portfolio provided the lender with confidence to proceed,” said Assouline.
Pictured: Scott Assouline.
- ◦Financing

