Meridian Provides $57M for Gainesville Apartment Acquisitions
Meridian Capital Group arranged $57 million in financing for the purchase of Indigo Apartments and Peaks at Gainesville, two multifamily properties in Gainesville, GA. Between them, the two properties total 407 units.
The two uncrossed, interest-only loans were provided by a debt fund lender with rates in the very low 3% range. The transactions were negotiated by senior managing director Seth Grossman and SVP Sarah Kuebler of Meridian’s San Diego office.
Both properties are in Hall County, which ranks among the nation’s top 50 fastest growing areas, propelled by a surge in new job opportunities along with the expansion of the Inland Port. Indigo Apartments and Peaks at Gainesville both offered an outstanding opportunity for an experienced sponsor to invest in well-maintained assets with room to organically increase rents in a strong submarket that boasts double digit average annual rent growth over the past five years, Meridian says.
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).