MERIDIAN CAPITAL GROUP ARRANGES MULTIFAMILY LOANS TOTALING $2.9 MILLION
CHICAGO AND CALUMET CITY, ILL. — Meridian Capital Group has arranged approximately $1.93 million in financing for a four-property multifamily portfolio located in Chicago and Calumet City. The properties, which total 39 units, are located at 7914-18 Hermitage Ave.; 8552-54 S. Laflin St.; 634 Sibley Blvd.; and 1633 Harbor. Gershon Friedman in the Illinois office of Meridian Capital Group negotiated the loan on behalf of the undisclosed borrower. Financing was based on a 5-year term, with rates in the 6 percent range. Additionally, Meridian has arranged $1 million in financing for a multifamily property located in the Edgewater neighborhood of Chicago. The 12-unit apartment community is located in the 5600 block of N. Winthrop Avenue. The borrower has owned the property for more than 30 years, and has completely rehabilitated all of the units. The mortgage was based on a 5-year term, with a rate of 5.75 percent. Joseph Schwimmer in Meridian’s Illinois office represented the borrower in negotiations.