MERIDIAN CAPITAL ARRANGES $7.5M FINANCING FOR THREE MULTIFAMILY PROPERTIES

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NEW YORK CITY — Meridian Capital Group has arranged $7.5 million in first mortgage financing for a three-property multifamily portfolio on behalf of an undisclosed local real estate investor. The fully leased portfolio comprises 113 units located on Marine Avenue, 82nd Street and 92nd Street in the Bay Ridge neighborhood of Brooklyn. The 15-year, self-liquidating financing package features a rate of 3.5 percent and was provided by a local savings bank. Joshua Sabzevari of Meridian’s New York City office negotiated the loans for the borrower.

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