MERIDIAN CAPITAL GROUP ARRANGES MULTIFAMILY LOANS TOTALING $10.45 MILLION

JOLIET, MORRIS AND CHICAGO, ILL. — New York-based Meridian Capital Group has arranged approximately $10.45 million in loans for four Illinois multifamily properties. In Joliet and Morris, the company has arranged $8.83 million in financing for three apartment communities totaling 237 units. The properties, which are located on Marbel Court in Morris and Larkin Avenue in Joliet, were recently remodeled. Joseph Schwimmer in the Illinois office of Meridian negotiated on behalf of the undisclosed borrower. Financing for all of the properties was based on a 10-year term, with rates ranging from 5.63 percent to 5.79 percent. In Chicago, Meridian has arranged approximately $1.62 million in financing for an apartment community located at 6110 N. Winthrop Ave. The loan for the 37-unit property was based on a 5-year term with a rate of 5.72 percent. Tannie Schnell in Meridian’s Illinois office secured financing for the undisclosed borrower.