Washington, DC - Meridian Capital Group has arranged highly structured financing in the amount of $185,000,000 for the recapitalization of Senate Square, a 432-unit luxury apartment building located on Second Street, NE in the heart of the nation’s capitol.

Two years ago, Meridian Capital Group in concert with PB Capital arranged construction financing for the ground up construction of Senate Square in the Capitol Hill area of Washington, DC. The borrower originally planned to build a high-end condominium complex on the site. But as the condominium market weakened, plans were made to convert Senate Square into a luxury rental development.

Ronnie Levine of Meridian Capital Group helped the borrower arrange bridge financing once the original construction was completed. The highly-complex deal involved many moving pieces as Levine negotiated a first mortgage, senior mezzanine loan and junior mezzanine loan with Goldman Sachs, Archon Capital and Archstone.

Senate Square is strategically located in Washington’s bustling Union Station district. Building amenities include a concierge, maid service, state of the art fitness center, rooftop pool and The Commons, an indoor entertainment retreat for all tenants.

Bozzuto Management will serve as the property and leasing manager. Bozzuto Management is an experienced real estate services organization that specializes in property management, development and construction.

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.