Meridian Capital closes mortgages in North and Central Jersey
Meridian Capital Group, LLC, a commercial real estate finance and advisory firm with an office in Iselin, announced the following transactions in New Jersey:
- A new mortgage of $25.5 million on a 1,053-unit multifamily portfolio located in East Brunswick, Washington, Chatham and Bloomfield. The loan features a rate of 3.55 percent and a 10-year term.
- A new mortgage of $6.48 million for the purchase of a 66-unit multifamily building on Union Street in Hackensack. The loan features a 10-year term and a rate of 2.99 percent for the first five years, followed by a 3.99 percent rate.
- A new mortgage of $2.2 million on a 26-unit multifamily building with two commercial units totaling 3,200 square feet on Raritan Avenue in Highland Park. The loan features a rate of 3.80 percent and a 10-year term.
The firm also announced these transactions in Pennsylvania:
- A new mortgage in the amount of $25 million on an 8-story, 141-unit multifamily property located at Nine N. 9th St. in Philadelphia. The loan features a rate of 3.375 percent and a seven-year term.
- A new mortgage in the amount of $27 million on a 410-unit Vairo Village multifamily property located in State College, Pa.. The loan features a rate of 3.99 percent and a 10-year term.