6B — April 11 - 24, 2014 — New Jersey — Mid Atlantic Real Estate Journal
www.marejournal.com
S OUTHERN N EW J ERSEY Cohen and Beyderman negotiate financing
MeridianCapital Group, LLCarranges $31million in financing for theDwell CherryHill Apartments
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The $31 million loan, pro- vided by a regional balance sheet lender, features a
HERRY HILL — Meridian Capital Group, LLC , a na-
competitive fixed-rated of 3.50% and a seven-year term with a five-year op- tion. Merid- ian seni or vice presi- dent, David
tional com- m e r c i a l real estate finance and a d v i s o r y f i r m , a r - r a n g e d a $31 million m o r t g a g e to refinance
David Cohen Max Beyderman
Cohen , and senior vice presi- dent, Max Beyderman , who are both based in Meridian’s Iselin, NJ office, negotiated this financing.
the Dwell Cherry Hill Apart- ments multifamily property located in Cherry Hill, NJ on behalf of The Klein Com- pany.
Dwell Cherry Hill Apartments
The 233-unit Dwell Cherry Hill Apartments, located at 1982 Marlton Pike East in Cherry Hill, NJ, is a stun- ning new LEED certified de- velopment that was recently stabilized. The Klein Company, the owner of Dwell Cherry Hill Apartments, is a dynamic real estate developer and in 2013 won the Apartment Association of Greater Phila- delphia’s award for Best in Apartment Living. “We were able to work with the stellar team at The Klein Company to procure timely financing that fully accounts for the strong lease-up veloc- ity,” said Beyderman. “Ad- ditionally, we capitalized on a dip in U.S. Treasuries to secure very efficiently priced long-term debt right when the property began exhibit- ing its full potential ,” added Cohen. Founded in 1991, Meridian Capital Group, LLC is one of the nation’s largest com- mercial real estate finance and advisory firms. Meridian is headquartered in New York with offices in New Jersey, Maryland, Illi- nois, Florida and California. Working with a broad array of capital providers, Meridian arranges financing for trans- actions ranging from $1 mil- lion to more than $500 million for multifamily, co-op, office, retail, hotel, mixed-use, in- dustrial, healthcare, student housing, self-storage and con- struction properties.
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