MERIDIAN CAPITAL ARRANGES $8 MILLION IN LOANS FOR MULTIFAMILY PROPERTIES

CHICAGO — New York City-based Meridian Capital Group has arranged more than $8 million in financing for three Chicago multifamily properties. The company has arranged $5.3 million in financing for a 90-unit apartment complex located at 6954 N. Sheridan Rd. Financing was based on a 10-year term, with a rate of 5.8 percent. Joseph Schwimmer and Tannie Schnell of Meridian’s Illinois office negotiated the loan on behalf of the borrower. Schwimmer has also arranged a $1.84 million loan for three multifamily buildings located at 6154 S. Richmond St., 6148 and 6155 S. Sacramento Ave. The buildings, which house 41 units, were recently fully rehabbed. Financing was based on a 5-year term, with a rate of 5.75 percent. Additionally, Schnell has arranged $1.15 million in financing for a building located at 4630 N. Ashland Ave. The loan for the 18-unit apartment community was based on a 5-year term, with a rate of 5.75 percent.