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Meridian Capital Group Arranges $218.2M in Acquisition Financing for Two Multifamily Properties in New Jersey

Wayne-Village-Wayne-NJ

Cammeby’s International LTD acquired the 275-unit Wayne Village in Wayne, N.J., in a two-property $218.2 million multifamily acquisition.

PISCATAWAY AND WAYNE, N.J. — Meridian Capital Group has arranged $218.2 million in acquisition financing for the purchase of Pleasant View Gardens and Wayne Village, two multifamily properties located in Piscataway and Wayne. Cammeby’s International LTD acquired the properties, which total 1,414 units. The 10-year Fannie Mae loans, provided by Capital One Multifamily Finance, feature 3.89 percent fixed rates and seven years of interest-only payments. Abe Hirsch, Zev Karpel of Meridian Capital arranged the financing for the borrower. Located at 258 1/2 Carlton Ave. in Piscataway, Pleasant View Gardens offers 1,142 apartments, a swimming pool, fitness center, business center and clubhouse. Located at 1353 Valley Road in Wayne, the 275-unit Wayne Village features a swimming pool, fitness center and dog park.

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