18A — August 14 - 27, 2015 — M id A tlantic
Real Estate Journal
M ultifamily F inancing
Elliot Treitel negotiates $20.1 million refinance of a multifamily portfolio in NJ Meridian Capital Group arranges $41.3m in acquisition financing for the Marbury Plaza
lationships and a t t en - tive process a l l owed us to coordinate with all par- ties involved and structure highly accre- t i ve t e rms a n d b r i n g the loan to a seamless closing,” he said. B A Y - ONNE/JER- SEY CITY, NJ — Merid- ian Capital
Lefkowitz , who is based in the Company’s Iselin, NJ office. Marbury Plaza, located at 2300 Good Hope Rd., SE in Washington, DC, is composed of two 11-story buildings totaling 675 units. The property is situ- ated on a hill overlooking many of the historical landmarks and monuments in the nation’s capital including the National Cathedral and the U.S. Capitol. “Meridian has significant experience working on complex transactions with multiple moving parts,” said Lefkowitz. “This loan is a perfect example of where our experience, re-
ASHINGTON, DC — Meridian Capi- tal Group , one of
America’s most active debt bro- kers, negotiated a $41.3 million mortgage for the purchase of Marbury Plaza, a multifamily property located in Washing- ton, DC. The seven-year loan, pro- vided by a balance sheet lender, features a competitive fixed- rate of 3.50% and one-year of interest-only payments fol- lowed by a 30-year amortiza- tion schedule. This transaction was negotiated by Meridian senior vice president, Barry
continued from page 12A 1031 exchange due to not being able to find a property they know they can close on,” Kay says. “Often, 1031 in- vestors face a very real risk of not being able to close in time because of a number of issues, such as financing not coming through or issues with appraisals or environmental reports. A lot of things can go wrong with trying to purchase a typical apartment or triple net property. The DST 1031 provides a potential solution to those investors who don’t want to be burdened with those clos- ing risks,” Kay says. n Exchange property may work for you Group negotiated a $20.1 mil- lion mortgage for the refinance of a multifamily portfolio locat- ed in Bayonne and Jersey City. The five-year loan, provided by a balance sheet lender, features a competitive fixed- rate of 3.13% and a 30-year amortization schedule. This transaction was negotiated by Meridian senior vice president, Elliot Treitel , who is based in the Company’s Iselin, NJ office. The multifamily portfolio is composed of 210 apartments and 3,000 s/f of office space. The properties are located on Avenue A in Bayonne and Corbin Ave., Gardner Ave., South St., Kennedy Blvd, Ton- nele Ave. and Pavonia Ave., in Jersey City. “By leveraging our close re- lationship with a local lender, Meridian was able to obtain a significant equity cash out on behalf of our client two years post acquisition,” said Treitel. n Three reasons why a DST 1031
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