New Haven, CT Meridian Capital Group arranged $3.7 million in financing for the refinance of a multifamily property.
The seven-year, floating-rate loan is swapped at 190 basis points over LIBOR in years three to seven of the loan term and features a 30-year amortization schedule. This transaction was negotiated by Meridian senior vice president, Simon Rosenfeld, and associates, Avi Gorbacz, and Craig Berger, who are all based in the company’s NYC headquarters.
The four-story property, which is located at 441 Chapel St., features 23 renovated units and is within walking distance from Yale University. It spans 42,430 s/f and includes 40 parking spaces within two private, gated lots. Units range in size from one-bed, one-bath to four-bed, five-bath apartments.