Meridian arranges $71m Bronx portfolio loan

Meridian Capital Group arranged $71m to refinance a mixed-use and multifamily portfolio located in the New York City borough on The Bronx on behalf of The Morgan Group.

Meridian Capital Group arranged $71m to refinance a mixed-use and multifamily portfolio located in the New York City borough on The Bronx on behalf of The Morgan Group.

The five-year financing package, provided by a regional balance sheet lender, features a rate of 3.13% and three-years of interest-only payments.

This transaction was negotiated by Meridian Capital Group vice president, Moe Rosenblum, based in the company’s New York City headquarters.

“We have the unique capability to quickly underwrite the assets, gauge lender interest and negotiate an accretive structure that includes interest-only, while maintaining favorable pricing,” he said in a statement.

Meridian declined to reveal the lender.

The portfolio includes 10 multifamily buildings and two mixed-use properties totaling 568 apartments and seven retail spaces.

The properties are located on East 177th Street, East 231st Street, East 232nd Street, West 170th Street, Dekalb Avenue, Tyron Avenue, Marion Avenue, Carpenter Avenue and Thieriot Avenue.

Founded in 1991, Meridian Capital Group is one of the nation’s largest commercial real estate finance and advisory firms, headquartered in New York with offices in New Jersey, Maryland, Illinois, Florida and California.

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