MERIDIAN ARRANGES $2.53 MILLION MULTIFAMILY LOAN
PHILADELPHIA — Meridian Capital Group has arranged $2.53 million in non-recourse financing for the refinancing of three Philadelphia multifamily properties. The President, The Bel Air and Chelten Arms Apartments are located at 425, 427 and 500 W. Chelten Ave., and contain a total of 93 units. Josh Gorsky of Meridian's New Jersey office arranged the financing, which carries a 10-year term with a 30-year amortization schedule and fixed interest rates of 5.72 and 5.75 percent. The borrower and lender were undisclosed.