Meridian Capital Group Arranges $43.8M Acquisition Loan for Apartment Community in Lakemoor, Ill.

LAKEMOOR, ILL. — Meridian Capital Group has arranged a $43.8 million agency loan on behalf of Strategic Properties of North America for the purchase of The Meadows Apartment Homes in Lakemoor. The 12-year Fannie Mae loan features a competitive fixed-rate below 4 percent and four years of interest-only payments. Shaya Ackerman in Meridian Capital Group’s New York office arranged the loan for the borrower. The Meadows Apartment Homes includes 496 units plus additional acreage with entitlements to construct up to 224 more units. The borrower, Strategic Properties of North America, purchased the asset from GE Capital.