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New York & Tri-State  + New Jersey  + Finance  | 

Meridian Arranges Financing for Morris Plains Multifamily Acquisition

Meridian Capital Group arranged $30.7 million in acquisition financing for The American, a multifamily mid-rise property in Morris Plains, NJ on behalf of Shamah Properties.

The transaction was negotiated by Meridian senior managing director Morris Betesh and SVP Alex Bailkin, both based in the company’s New York City headquarters.

Located at 1000 The American Rd. in Morris Plains, the four-story property includes 125 units and spans 112,378 square feet.

“We worked through a very volatile market and were able to close a fixed-rate loan on a mostly vacant property in lease-up,” said Betesh. “This is a testament to our client’s proven track record and the quality of the asset.”

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Inside The Story

Meridian Capital's Betesh

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
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