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Meridian Capital Group negotiates more than $12M in loans for multifamily properties in N.J.

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Commercial real estate firm Meridian Capital Group LLC announced Friday two new financings for multifamily properties throughout New Jersey.

According to the announcement, Meridian negotiated a new mortgage of $8.1 million on the 80-unit Grand Lee Apartments multifamily property in Leonia. The loan features a rate of 3.99 percent and a seven-year term. The transaction was negotiated by Abe Schonfeld.

Meridian also negotiated a mortgage of $4.74 million on three multifamily properties totaling 90 units on Lincoln Avenue in Newark. The loan features a rate of 3.45 percent and a seven-year term. The transaction was negotiated by Russ Drebin, the announcement said.

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Emily Bader

Emily Bader

Emily Bader is the copy and web editor at NJBIZ. She is a Brielle, N.J. native and a Rutgers University alum. You can contact her at emilyb@njbiz.com or @emilybader on Twitter.

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