MERIDIAN CAPITAL GROUP ARRANGES $86.2M IN LOANS

ISELIN, N.J. — Meridian Capital Group LLC has arranged $86.2 million in financing for multifamily properties in New Jersey and Pennsylvania. The biggest loan, $27 million, was for the 410-unit Vairo Village property located in State College, Pa. The 10-year loan carries a 3.9 percent interest rate. Other financing transactions include: a 10-year, $25.5 million loan for a 1,053-unit multifamily portfolio located in the New Jersey communities of East Brunswick, Washington, Chatham and Bloomfield; a seven-year, $25 million loan for an 141-unit property located at Nine N. 9th St. in Philadelphia; a 10-year, $6.4 million loan for 66-unit multifamily building on Union Street in Hackensack, N.J.; and a 10-year $2.2 million loan for a 26-unit property on Raritan Avenue in Highland Park, N.J.Russ Drebin, Israel Schubert and David Fisher of Meridian originated the loans.