Shelby of Meridian Capital Group arranges $58 million in CMBS financing

Stamford, CT Meridian Capital Group arranged $58 million in CMBS financing for the refinance of the Townhouse Apartments. The 10-year CMBS loan features a competitive fixed rate of 4.31% and full-term interest-only payments. This transaction was negotiated by Meridian managing director, Carol Shelby who is based in the company’s New York City headquarters.

Townhouse Apartments, Prospect Street - Stamford, CT

Townhouse Apartments is comprised of an eight-story building, located at 65 Prospect St. and a 12-story building, located at 77 Prospect St. in downtown. The property totals 270 residential units and 246 garaged parking spaces. Townhouse Apartments features finished basements and elevators, as well as newly renovated apartment interiors and fitness centers. Tenants have access to mass transit, including Stamford Transportation Railroad Center, the Stamford Connecticut Bus Station and close to routes to all major New York City airports. Townhouse Apartments is within walking distance to a variety of restaurants, shops and attractions, including the Atrium’s Asian Water Garden and the Scalzi Park.

“Townhouse Apartments has become a desirable residential property, due to its updated features and convenient location,” said Shelby. “Lenders recognized the value of this well-located property and Meridian negotiated favorable terms with a competitive fixed rate in an exceptionally short time-frame of three weeks,” she said.

Founded in 1991, Meridian Capital Group is America’s most active debt broker and one of the nation’s leading commercial real estate finance advisory firms. In 2015, Meridian closed over 3,900 loans totaling more than $35 billion in transaction volume with 210 unique lenders, equating to $135 million per business day. Since inception, the company has closed more than $260 billion in financing with the full complement of capital providers, encompassing local, regional and national banks, CMBS lenders, agency lenders, mortgage REITs, life insurance companies, credit unions and private equity funds. Meridian arranges financing for many of the world’s leading real estate investors and developers and the company’s expansive platform has specialized practices for a broad array of property types including office, retail, multifamily, hotel, mixed-use, industrial, healthcare, student housing and self-storage properties. Meridian is headquartered in New York City with offices in New Jersey, Maryland, Illinois, Ohio, Florida and California.