Chicago, IL - Meridian Capital Group recently arranged financing in the amount of $1,618,000 for a multifamily property located at 6110 N. Winthrop Avenue and consists of 37 residential units. Tannie Schnell of Meridian's Illinois office negotiated on behalf of the borrower to secure a 5-year term mortgage with a rate of 5.72%. The building has been fully rehabilitated and is located in an appreciating north side pocket of the city. Meridian was able to work closely with the lender to secure additional proceeds as well as reduce the interest rate prior to closing.

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 and California. 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 2,250 transactions in 2008, totaling over $11.5 billion.