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.