![MBA Newslink Logo](https://newslink.mba.org/wp-content/themes/mba-newslinks/assets/img/logos/mba-newslinks-child-page-logo.png)
Dealmaker: Meridian Capital Group Arranges $277M for Multifamily, Retail
Meridian Capital Group, New York, arranged $277.4 million to refinance three multifamily properties and a shopping center in New Jersey.
Real estate investment firm SDK Apartments LLC, Ridgewood, N.J., received 10-year loans totaling $168 million, $90.9 million and $18.5 million from a balance sheet lender. All three loans closed at 3.13 percent with five years of interest-only payments and flexible prepayment premiums.
Meridian Senior Managing Director Abe Hirsch, Managing Directors Judah Hammer and Zev Karpel and Associate Sean Anderson negotiated the transactions.
“Meridian capitalized on the recent dislocation in the financial markets, while property fundamentals remained strong, to achieve loan terms rarely seen from a balance sheet lender,” said Karpel.
Village Green Apartments and the Village Green Shopping Center are located at 100 Route 46 in Budd Lake. The shopping center has 15 tenants in 73,400 square feet while the multifamily community has 73 one- and two-story buildings totaling 1,172 units.
The second property, Millbridge Gardens, is located at 1341 Blackwood Clementon Road in Clementon. The multifamily community includes 848 one- and two-bedroom apartments in 62 two-story buildings spanning 765,000 square feet.
The final subject property, Parsippany Gardens, is located at 380-388 Parsippany Road in Parsippany. It includes 124 apartments in five two-story buildings.