Meridian Capital Group arranged $18.8 million in financing to refinance a 30-unit multifamily property on Hemenway Street in Boston. The building is situated in East Fenway, home to the Boston Red Sox and in proximity to Northeastern University and Boston University.
The 10-year loan, provided by a balance sheet lender, features a fixed rate of 3.00% and three years of interest-only payments followed by a 30-year amortization schedule. It was negotiated by Meridian SVP Zev Feder and VP Jason Bogopulsky, based in Meridian’s New York City headquarters.
“This property serves as a strong asset to the Fenway community for local professionals and students who rely on the complex as a centralized home-base on their commute to and from class and work each day,” said Feder. “This transaction exemplifies how stable the student housing market remains despite some of the challenges in leasing due to the onset of COVID-19 in 2020.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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).