Meridian Lines Up Acquisition Loan on Norwalk Apartments
Meridian Capital Group arranged $12.75 million in acquisition financing for 34 Oakwood Ave., a multifamily property in Norwalk, CT. The loan was negotiated by Meridian’s Judah Hammer, Daniel Neiss and Jared Kaufman, all based in the company’s New York City headquarters.
The 36-month loan, provided by a balance sheet lender, features a rate of 3.13%, a five-year extension option and two years of interest-only payments followed by a 30-year amortization schedule.
34 Oakwood is a three-story garden style apartment building, with two ground-floor commercial units and 53 one and two-bedroom residential units featuring private balconies; kitchens equipped with granite countertops and stainless steel appliances; fireplaces; and in-unit washers and dryers.
The property offers access to the Metro-North Railroad at the Merritt 7 station, in addition to the I-95 and Merritt Parkway.
For comments, questions or concerns, please contact Paul Bubny