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4 Commercial Mortgages Arranged

Meridian Capital doing deals in CA, FL and NJ

May 11, 2007

By MortgageDaily.com staff

Four commercial properties in three states have all been financed by one New York-based company.

Meridian Capital Group, headquartered in Red Bank, announced today it arranged commercial mortgage financing for each of the properties.

Financing for a 160,000 square-foot office property in Tampa, Fla., was arranged for $12.5 million, Meridian reported. The loan has a 5.8 percent rate and a 10-year term.

Just across the peninsula in Ft. Lauderdale, a $1.0 million loan was secured for a 7,000 square-foot medical office building, another announcement said. That non-recourse note will carry a 6.75 percent rate over a 7-year term.

Meridian, a 16-year-old company, also reported it has arranged to finance a 150-unit co-op in New Jersey. The 10-year note on the 40-year-old building is at a 5.41 percent rate.

Another press release indicated Meridian set up $80.5 million in financing for a $180 million redevelopment in Ontario, Calif. The refurbished development includes residential units, retail space and a large central plaza for entertainment and special events.

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