5-27-16

Real Estate Journal — Owners, Developers & Managers — May 27 - June 9, 2016 — 5B

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M id A tlantic

O wners , D evelopers & M anagers

Pleasant View Gardens and Wayne Village Meridian Capital Group secures $218.2 million in acquisition financing for two multifamily properties P

I S C A T A W A Y & WAYNE, NJ — Me- ridian Capital Group arranged $218.2 million in acquisition financing for the purchase of Pleasant ViewGar- dens and Wayne Village, two multifamily properties located in Piscataway and Wayne, respectively, on behalf of Cam- meby’s International LTD. The 10-year Fannie Mae loans, provided by Capital One Multifamily Finance , feature fixed rates of 3.89% and seven years of interest-only payments. These transactions were negotiated by Meridian senior managing director, Abe Hirsch , and managing direc- tor, Zev Karpel , who are both based in the company’s NYC headquarters. Pleasant View Gardens, lo- cated at 258 ½ Carlton Ave. in Piscataway, totals 1,142 units. Wayne Village, located at 1353 Valley Rd. off of Hamburg Tpke. totals 275 units and is composed of garden-style apart- ments and townhouses. “This is an excellent example of using teamwork to deliver the financial solution that met the sponsor’s needs,” said Grace Huebscher , president of Capital One Multifamily Finance. “Our strong relation- ships with Fannie Mae and Meridian allowed us to work effectively with them to pro- vide the best possible financial structure for the transaction.” n Urban Pace and Long & Foster Cos. join forces WASHINGTON, DC — Urban Pace , which provides marketing, sales, advisory, and consulting services to real estate developers, has joined forces with The Long & Foster Companies . Ur- ban Pace will continue to operate with its same team, brand, and current office location. “Long & Foster identified the growing demand for ur- ban vertical living as an enormous opportunity, and decided that they want to be part of that evolution,” said Urban Pace founder Lynn Hackney . “Investing in the Urban Pace brand, systems, and team allows this to hap- pen quickly and powerfully. Urban Pace services, opera- tions, staff and relationships with our developer clients will remain exactly the same.” n

Pleasant View Gardens

Wayne Village

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