CHICAGO AND MICHIGAN CITY, ILL. — New York City-based Meridian Capital Group has arranged approximately $3.14 million in financing for four multifamily properties located at 222 and 234 E. 109th St., also known as 10848 and 10849 S. Prairie; 7802 S. Michigan Ave.; and 9040 S. Bishop St. in Chicago. The properties, which house 55 units, are situated on the Southside of Chicago in the Beverly and Chatham neighborhoods. Financing was based on a 5-year term, with rates all sub 6 percent. Gershon Friedman of Meridian Capital Group’s Illinois office negotiated on behalf of the borrower. Friedman also arranged $1.94 million in financing for a 31,000-square-foot multi-tenant office/loft property located at 1456 N. Dayton St. in Chicago.
Additionally, Meridian Capital Group arranged an approximately $3.89 million loan for another multifamily property located at 3208 Dody Ave. in Michigan City. The property consists of 130 units. On behalf of the undisclosed borrower, Friedman secured a 7-year term mortgage, with a rate of 6.25 percent.
Meridian Capital Group has arranged approximately $3.89 million in financing for a 130-unit apartment complex in Michigan City, Ill.
MERIDIAN CAPITAL ARRANGES FINANCING FOR MIDWEST MULTIFAMILY PROPERTIES
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