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HAUPPAUGE, N.Y. — Meridian Capital Group has arranged $128 million in acquisition financing for the purchase of Devonshire Hills, a multifamily property located in Hauppauge. Bainbridge Cos. and China Orient Asset Management, through its U.S. affiliated entity, acquired the 43-building, 656-unit multifamily property located at 1717 Devonshire Road. The garden-style apartment community includes a swimming pool, tennis court, fitness court and shared outdoor space. The five-year loan, provided by a regional balance sheet lender, features a 3.13 percent fixed rate, two years of interest-only payments and a 75 percent loan-to-cost ratio. Jacob Katz, Abe Hirsch and Zev Karpel of Meridian Capital Group arranged the financing for the borrower.