Meridian Capital Group arranges $41.3m in acquisition financing for the Marbury Plaza
WASHINGTON, DC — Meridian Capital Group, one of America’s most active debt brokers, negotiated a $41.3 million mortgage for the purchase of Marbury Plaza, a multifamily property located in Washington, DC.
The seven-year loan, provided by a balance sheet lender, features a competitive fixed-rate of 3.50% and one-year of interest-only payments followed by a 30-year amortization schedule. This transaction was negotiated by Meridian senior vice president, Barry Lefkowitz, who is based in the Company’s Iselin, NJ office.
Marbury Plaza, located at 2300 Good Hope Rd., SE in Washington, DC, is composed of two 11-story buildings totaling 675 units. The property is situated on a hill overlooking many of the historical landmarks and monuments in the nation’s capital including the National Cathedral and the U.S. Capitol.
“Meridian has significant experience working on complex transactions with multiple moving parts,” said Lefkowitz. “This loan is a perfect example of where our experience, relationships and attentive process allowed us to coordinate with all parties involved and structure highly accretive terms and bring the loan to a seamless closing,” he said.