New York – June 23, 2015 – (RealEstateRama) — The 10-year loan, provided by a regional balance sheet lender, features a competitive fixed-rate of 3.68% and five-years of interest-only payments followed by a 30-year amortization schedule. This transaction was negotiated by Meridian Capital Group Vice President, Judah Hammer, who is based in the Company’s New York City headquarters.
The five-story property totals 27 units and is located on Pinehurst Avenue in New York, NY.
“Meridian was able to navigate an extremely volatile interest rate market to lock in a competitive rate before treasuries rose,” said Mr. Hammer. “We also negotiated five years of interest-only payments in a market where banks are more averse to interest-only periods due to regulatory pressure,” he added.
Founded in 1991, Meridian Capital Group, LLC is one of the nation’s largest commercial real estate finance and advisory firms. Meridian is headquartered in New York with offices in New Jersey, Maryland, Illinois, Florida and California. Working with a broad array of capital providers, Meridian arranges financing for transactions ranging from $1 million to more than $500 million for multifamily, co-op, office, retail, hotel, mixed-use, industrial, healthcare, student housing, self-storage and construction properties. www.meridiancapital.com
