Waveland, MS - Meridian Capital Group recently arranged $7,040,000 in financing for the Gulf Grove Apartments. The property contains one building with a total of 100 units and is located at 2057 Waveland Avenue. Jim Bologno of Meridian’s New Jersey office negotiated on behalf of the borrower to secure a rate of 5.92% over a seven-year term.

Due to Hurricane Katrina destroying this property several years ago, the borrower completed a gut rehabilitation of the property.

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.