Hopewell Junction, NY – On behalf of an investor group led by Bruce Kaye and David Brown, Meridian Capital Group has arranged $11,450,000 in financing for Heritage Square located on Route 52 in Dutchess County. Constructed in 2005, the mixed-use retail/office complex setting on a parcel of 10 acres consists of 3 two-story elevator buildings with a bank pad site for a total rentable area of approximately 75,000 square feet. The property is 98% leased. Abe Hirsch and Zev Karpel of Meridian’s New York office negotiated on behalf of the borrowers to secure a fixed 7-year term with 2 years of 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.