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Meridian Capital Arranges $40M Refinancing of Apartment Community in Corpus Christi

Retreat-by-Watermark-Corpus-Christi-Texas

The Retreat by Watermark in Corpus Christi totals 324 units.

CORPUS CHRISTI, TEXAS — New York-based Meridian Capital Group has arranged a $40 million loan for the refinancing of The Retreat by Watermark, a 324-unit apartment community in Corpus Christi. The property consists of one-, two- and three-bedroom units and offers amenities such as a pool, fitness center, movie room, game room and a pet park. Peter Martz, Akiva Friend and Israel Schubert of Meridian Capital arranged the 10-year, non-recourse loan, which features an 80 percent loan-to-value (LTV) ratio and a fixed interest rate, on behalf of Watermark Residential, an Indiana-based multifamily developer.

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