Charlotte, NC - Meridian Capital Group recently arranged a loan in the amount of $9,650,000 for the refinance of the Vista Villa Apartments, located at 6309 Montego Drive. Eric Fixler of Meridian’s Florida office negotiated on behalf of the borrower, Mount Royal Realty VII, to secure a rate of 5.98% over a 10-year term with 3 years of interest only payments.

Vista Villa Apartments is comprised of 28 buildings, all 2 stories high, with a total of 238 units. It is spread out over 17.63 acres and was built in 1972. In the 16 months of ownership, the borrower has made major improvements to the property. Some of the exterior improvements include new roofs, balconies and a resurfaced community pool. The apartment interiors received new kitchen cabinets, flooring and carpeting.

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.