Meridian Finances Icer Properties Portfolio in NJ and Queens
Meridian Capital Group arranged a total of $18 million in financing for the SLJ Portfolio, which contains retail and office properties in Raritan and Union, NJ and Queen’s Jamaica neighborhood, on behalf of Joseph Jemal of Icer Properties.
The loan, provided by a CMBS lender, features a rate of 3.32%, with a 10-year term and interest-only payments. This transaction was negotiated by Meridian senior managing director Cary Pollack and VP Judah Neuman, both based in Meridian’s New York City headquarters.
The portfolio is composed of properties at 401 NJ-28 in Raritan, 2706 Rte. 22 in Union, and 162-24 Jamaica Ave. in Jamaica. 401 NJ-28 has three retail units totaling 22,206 square feet. 2706 Rte. 22 is a single-tenant Petco across 11,800 square feet. 162-24 Jamaica Ave. has two retail units totaling 5,250 square feet and three office units totaling 36,379 square feet.
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).