MERIDIAN SECURES $7.18 MILLION FOR FOUR MULTIFAMILY PROPERTIES

LOS ANGELES — Meridian Capital Group has arranged a total of $7.18 million in financing for four Southern California multifamily properties. First, Alex Katz of Meridian’s Los Angeles office secured a $5.15 million loan for two properties, totaling 58 units, at 1707-1759 Calle Jules in Vista and 1337 North Broadway in Escondido. Terms of the loan include a 5.78 percent fixed rate, non-recourse, and a 10-year term. Additionally, Ben Grossman, also of Meridian’s Los Angeles office, secured $2.03 million for 16 multifamily units located at 5414 Fountain Ave. in Hollywood and 14 Ozone Ave. in Venice Beach. Meridian originated the loan on behalf of Monem Corp. Terms of the loan include a 5.5 percent fixed interest rate and a 10-year term. The borrowers in both transactions were undisclosed.