Meridian Capital Group Arranges $116.4M Refinancing for Arizona Multifamily Portfolio

by Nellie Day

GLENDALE AND CHANDLER, ARIZ. — Meridian Capital Group has arranged $116.4 million to refinance four multifamily properties in Arizona. The four properties were financed in two separate loans.

The first loan was for Tela Verde and Tuscany Palms in Glendale. The assets contain a total of 778 units. The properties in the second loan include Alante at the Islands and Laguna Village in Chandler. These assets contain a total of 780 units.

Meridian originally financed these four properties as part of a seven-property portfolio acquisition loan on behalf of PB Bell Companies in July 2014. The firm sold the other three properties while repositioning the four assets included in this refinancing.

Meridian’s Seth Grossman, Sarah Kuebler and Ryan Gandell arranged the two fixed-rate, non-recourse financing packages.

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