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Meridian Arranges Refi, Acquisition Loan on Norwalk Apartment Properties
Meridian Capital Group arranged a total of $31.6 million in financing to refinance Point Rock at Oakwood and acquire The Sono Pearl, two multifamily properties in Norwalk, CT.
The 36-month loans total $15.1 million for Point Rock at Oakwood and $16.5 million for The Sono Pearl. They feature rates of 3.125%, one five-year extension option, and 24 months of interest-only payments followed by 30-year amortization schedules.
These transactions were negotiated by Meridian managing director Judah Hammer and VP Daniel Neiss, both based in the company’s New York City headquarters.
“Meridian arranged five sales for this sponsor, which all closed in late July,” said Hammer. “In order to facilitate the acquisition, we needed to time those five sales in conjunction with the refinance of Point Rock at Oakwood to ensure an efficient process and meet all contract deadlines.”
- ◦Sale/Acquisition
- ◦Financing
