Orlando, FL - Meridian Capital Group recently arranged a loan in the amount of $2,800,000 for the purchase of the Hillcrest Hampton Apartments. Eric Fixler of Meridian’s Florida office negotiated on behalf of the borrower, Elevation Properties LLC, to secure a rate of 5.84% over a 10-year term. The transaction required HUD approval, which was delivered in record time. This is the third deal closed by Meridian on behalf of the borrower.

Hillcrest Hampton Apartments is a 14 story high-rise building with 103 one-bedroom units and 53 efficiencies. In addition, the facility has four main common areas where there are TV rooms, chapels, public kitchens, meeting rooms and a suite of offices. The building is located at 2000 Hillcrest Street in Orlando FL and is a HUD senior living facility. The property will have use restrictions through February 2012.

Elevation Properties LLC is a multi-family and senior housing and investment firm located in the Orlando area.

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.