Meridian Capital Group Arranges $170.7 Million in Acquisition Financing for a Multifamily Portfolio in Houston and Stafford, TX

April 17, 2019, 

Meridian Capital Group, America’s most active dealmaker, arranged $170.7 million in acquisition financing for a portfolio of seven multifamily properties in Houston and Stafford, TX. The properties will be managed by BlueStone Premier.

The two-year loan, provided by Prime Finance, features a floating rate, three one-year extension options, and full-term interest-only payments. This transaction was negotiated by Meridian Senior Managing Director, Seth Grossman, and Vice President, Sarah Kuebler, who are based in the company’s Southern California offices.

The portfolio consists of six multifamily properties in Houston and one multifamily property in Stafford, TX, totaling 2,239 residential units ranging from one- to four-bedrooms. New sponsorship plans to renovate the properties, which were all primarily constructed in the 1970s and 1980s, to feature upgraded exteriors, common areas and landscaping in addition to interior renovations such as new appliances, plumbing, light fixtures, and faux-wood flooring. All seven properties are strategically situated in very desirable sub-market locations within the Greater Houston Area near main thoroughfares, providing immediate access to the area’s most popular employment, shopping, dining, and entertainment options.

Houston is the most populous city in the state of Texas and the fourth largest city in the United States with more than 2.3 million residents. The city also has the second greatest number of Fortune 500 headquarters in the U.S. after New York and was named the number three city for job growth in the nation by Fannie Mae in 2018.

Founded in 1991, Meridian Capital Group is America’s most active dealmaker and one of the nation’s leading commercial real estate finance, investment sales and retail leasing advisors. In 2018, Meridian closed over $37 billion in financing through more than 3,500 transactions across more than 250 unique lenders and sold nearly $1 billion in commercial property. Meridian represents many of the world’s leading real estate investors and developers and the company’s expansive platform has specialized practices for a broad array of property types including office, retail, multifamily, hotel, mixed-use, industrial, and healthcare and senior housing properties. Meridian is headquartered in New York City with offices in New Jersey, Maryland, Illinois, Ohio, Florida, and California. www.meridiancapital.com