Meridian Capital Group’s Treitel & Helmreich arrange $18m in balance sheet financing
Arlington, NJ — Meridian Capital Group arranged $18 million in balance sheet financing for the purchase of the Carriage Club Apartments multifamily property, located in Mount Arlington.
The seven-year loan, provided by a regional balance sheet lender, features a fixed rate of 3.50%. This transaction was negotiated by Meridian senior vice president, Elliot Treitel and senior underwriter, Steven Helmreich, who are both based in the company’s Iselin office.
Carriage Club Apartments, located at One Hillside Drive in Mount Arlington, NJ, is a three-story, 106-unit garden-style apartment complex, nestled in a quaint west end community. “The sale was predicated on our client assuming the existing agency financing,” said Treitel. “Despite this condition, Meridian negotiated more accretive and flexible acquisition financing from a local savings bank and worked with the client to use the new financing to pay off the in-place agency financing," he added.
In Caldwell, Meridian Capital Group arranged $15.3 million in balance sheet financing for the purchase of the Marian Manor senior housing property located in Caldwell.
The 10-year loan, provided by a balance sheet lender, features a fixed-rate of 4.45%. This transaction was negotiated by Meridian vice presidents, Jay Jacobovitch and Josh Munk, who are both based in the company’s Iselin office.