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Atlanta & Southeast  + Atlanta Metro  + Finance  | 
Eastpark Village Apartments in Kennesaw, GA

Meridian Arranges $73M Ground-Up Financing for Kennesaw Multifam

Meridian Capital Group has arranged $73 million in ground-up construction financing for a multifamily development in Kennesaw, GA. The non-recourse, five-year, floating-rate loan was provided by a life insurance company and features full-term, interest-only payments.

This transaction was negotiated by Meridian managing directors, Jonathan Zilber and Joel Chetner, and VP Hannah Howard.

At completion, Eastpark Village Apartments, will include 579 multifamily units comprised of 277 midrise units and 302 garden apartments. The property is less than two miles from downtown Kennesaw and close to schools, shopping, major employers and restaurants. It is also two miles from 41,000-student Kennesaw State University.

“Kennesaw is a booming submarket of Atlanta that is poised for tremendous growth,” said Chetner. “Our sponsor identified that trend early on, and as a result, lenders competed heavily for the opportunity to finance this development. Ultimately, we were able to achieve extremely compelling non-recourse financing for this market defining project.”

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Meridian Capital Group's Chetner

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 he makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Development
  • ◦Financing