Meridian Capital Group Arranges $34 Million Acquisition Loan for Brooklyn Multifamily Property

by Jaime Lackey

NEW YORK CITY— Meridian Capital Group has arranged $34 million in acquisition financing for the purchase of a multifamily property with retail and parking, located at the intersection of the Bedford Stuyvesant, Clinton Hill and Williamsburg neighborhoods in Brooklyn. The six-story property, located at 756 Myrtle Avenue, comprises 72 units; 17,000 square feet of retail space on the ground floor, partially occupied by Duane Reade; and a 48-car parking garage. Sam Shifer of Meridian negotiated the five-year loan, which provided by a regional balance sheet lender and features a fixed-rate of 3.25 percent as well as an interest-only component.

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