MERIDIAN ARRANGES $23.1M LOAN FOR APT. PORTFOLIO

SAN ANTONIO — Meridian Capital Group has secured $23.1 million in financing for a 774-unit, four-property multifamily portfolio that includes the 230-unit Wellington Estates Apartments, located in San Antonio. The other properties are located in Tucson, Ariz., and Sussex, N.J. Israel Schubert and David Cohen of Meridian's Iselin, N.J., office arranged the five-year loan through Beech Street Capital on behalf of the borrower, Wilshire Enterprises Inc. The portfolio averages a 93 percent occupancy rate.