MERIDIAN ARRANGES $17.9M LOAN FOR WALNUT PLACE IN PHILADELPHIA

PHILADELPHIA — Meridian Capital Group LLC has arranged a $17.9 million loan for the refinancing of Walnut Place, a luxury multifamily property in Philadelphia, on behalf of PMC Property Group. A local balance sheet lender provided the 10-year loan, which features a fixed interest rate of 3.75 percent. The 77-unit, eight-story Walnut Place features 3,000 square feet of ground-level retail space and is located at 312-320 Walnut St. The property is a remodeled, historic apartment building featuring loft-style apartments with high ceilings, natural light and views of downtown Philadelphia. Amenities at the community include a fitness center, on-site laundry facility and parking. David Fisher, senior vice president at Meridian Capital Group, arranged the loan.