MERIDIAN CAPITAL GROUP ARRANGES FINANCING FOR LEVITTOWN, PA MULTIFAMILY BUILDING
Levittown, PA - Meridian Capital Group recently arranged $5,850,000 in financing for a property located at 3501 Bristol Oxford Valley Road. The property consists of 11 buildings and a total of 120 residential units. Steve Tessler of Meridian’s New Jersey office negotiated on behalf of the borrower, Avalon Court Associates, L.P., to secure a 7-year term mortgage at a rate of 5.65% with a 5-year extension option and the first two years with interest-only payments.
Founded in 1991, Meridian Capital Group LLC is one of the nation’s largest mortgage brokerages serving the multifamily and commercial real estate sectors. The company is based in New York City with additional offices in New Jersey, Pennsylvania, Maryland, Illinois, Florida, California and Texas. Working with a wide variety of lenders, Meridian finances transactions ranging from $500,000 to more than $500 million for multifamily, co-op, office, retail, hotel, healthcare, self-storage, industrial, and construction properties. Nationally, Meridian reported more than 2,350 transactions in 2007, totaling over $16.5 billion.
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