MERIDIAN CAPITAL GROUP ARRANGES NEARLY $10 MILLION IN FINANCING FOR NEW JERSEY
RETAIL PROPERTY
Marlton, NJ – Meridian Capital Group has arranged $9,500,000 in low-leverage financing for a retail center in Marlton, NJ. The 154,000 square foot property, which is located at 101 S. Route 73, boasts a highly diverse mix of regional and national tenants.
Among the businesses that lease space within the center are the Burlington Coat Factory, Homegoods, and Supercuts. Seth K. Grossman of Meridian’s New York office helped the borrower to secure a fixed rate term mortgage with 2 years of interest-only payments. Meridian placed the loan with a local bank, enabling the borrower to benefit from a favorably lower interest rate.
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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