MERIDIAN ARRANGES $151 MILLION LOAN FOR THE RITZ PLAZA

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NEW YORK CITY — Meridian Capital Group has arranged a $151 million loan for The Ritz Plaza, a 43-story residential apartment building located in New York City’s Times Square. The building comprises 479 luxury units, as well as 30,000 square feet of retail and office space. Resident amenities include a fitness center, an indoor pool and a newly remodeled social center. The loan carries a 10-year term with a 5.34 percent fixed interest rate and 2 years of interest-only payments. Ralph Herzka and Abe Hirsch of Meridian secured the financing on behalf of the borrower, Stonehenge Management. The lender was Freddie Mac via the New York office of Walker & Dunlop.

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