MERIDIAN CAPITAL ARRANGES $58.6 MILLION MULTIFAMILY ACQUISITION FINANCING

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NEW YORK CITY — Meridian Capital Group has arranged $58.6 million in acquisition financing for a multifamily property located in Manhattan’s Financial District. The borrower, San Francisco-based Carmel Partners, acquired 15 Cliff Street, an apartment building with 156 units and ground-floor retail space. The seven-year mortgage, which was provided by a regional balance sheet lender, features an interest-only component and a floating rate that was swapped to a fixed rate for a portion of the term. Aaron Birnbaum of Meridian’s New York office and Seth Grossman of the company’s Carlsbad, Calif., office negotiated the transaction.

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