www.marejournal.com F inancial D igest F eaturing T he L ender ’ s D irectory Senior vice presidents Drebin, Fisher, and Jackson negotiate transaction Meridian Capital Group arranges $70 million in financing for the Hatfield Village multifamily H atfield, PA — Meridian Capital Group , America ’s M id A tlantic Real Estate Journal — November 10 - 23, 2017 — 5A
Hartfield Village is conve- niently located just off the PA Tpke. (Rte. 476) and minutes from routes 309, 63, 463, and 202. The community is sur- rounded by numerous parks and recreational facilities, including the Hatfield Commu- nity Park and Aquatic Center, XL Sports World, and the Hat- field Ice Arena. Various shop- ping centers and restaurants are just a few minutes away. “A loan of this size will typi- cally be financed by one of the agencies or via the CMBS market, but our borrower was specifically seeking a flex- ible balance sheet financing solution,” Jackson explained. “Given the track record and reputation of the sponsorship and the quality of the asset, Meridian was able to engage a balance sheet lender that was comfortable with a loan of this size and obtained a flex- ible structure with no reserve requirements.” n
most active dealmaker, nego- tiated $70 million in balance sheet financing to refinance Hatfield Village, a multifam- ily community in Hatfield, on behalf of Scully Company. The seven-year, fixed-rate loan, provided by a local bal- ance sheet lender, features a rate of 3.70% and two years of interest-only payments. This transaction was negotiated by Meridian senior vice presi- dents Russ Drebin, David Fisher , and Scott Jackson , who are all based in the com- pany’s Iselin, NJ office. Located at 2058 Maple Avee. is a garden apartment com- munity situated on a serene 70-acre park-like setting. The property consists of 35 three- story brick buildings, totaling 997 units. Community ame- nities abound, including an Olympic-size swimming pool,
Hatfield Village
state-of-the-art fitness center, picnic areas, tennis and bas- ketball courts, and walking trails along the beautifully
manicured grounds. Apartment amenities in- clude wall-to-wall carpeting, fully-equipped modern kitch-
ens, individually controlled heat and air conditioning, abundant closet space, and 24- hour emergency maintenance.
Commercial Mortgage Capital arranges $48.5 million in construction financing for new apartment in New York
LIVINGSTON, NJ — Mark Scott , of Commercial Mort- gage Capital (CMC) , has
s t r u c t u r e d and c l o s ed $48.5 million in construc- tion financing for Phase II of Southgate at Middletown. Phase II of Southgate at
Mark Scott
Middletown is comprised of 201 luxury apartments and follows the highly successful and fully leased 108 luxury apartment units of Phase I, completed in 2017. Middletown is located in Orange County, NY. The sub- ject property is located .25 mile north of I-84; .25 mile west of Route 17M, and .5 mile north of US Route 6/CR-56 or midway between the New Jersey border and Newburgh, New York. Since its inception in 1996, Commercial Mortgage Capital (CMC) has been a leader in real estate financing. n
Southgate at Middletown
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