Meridian Capital Group, America’s most active dealmaker, arranged $52 million in financing to refinance a multifamily community in Aberdeen, NJ on behalf of BNE Real Estate Group.
The 15-year loan was provided by a life insurance company and features five years of interest-only payments. This transaction was negotiated by Meridian Managing Director, Marvin Jeremias, who is based in the company’s Iselin, NJ office.
Located at 1101 Schindler Drive, the Link at Aberdeen Station is a luxury multifamily community consisting of five, five-story buildings totaling 227 studio- to two-bedroom units. The property was constructed at the end of 2018 and offers residents an array of community benefits, including a gated entry, resident lounge, private conference room, outdoor swimming pool, electric car charging stations, and 24-hour onsite maintenance, while individual apartments feature best-in-class amenities such as stainless steel appliances, quartz countertops, central heating and cooling, in-unit washers and dryers, and wood-style flooring.
The Link at Aberdeen Station is located less than 30 miles south of Manhattan and enjoys easy access to the city via the New Jersey Transit at the Aberdeen-Matawan train station, which is conveniently located next to the property. Residents also benefit from a quick commute to New Jersey’s popular shore locations.
“The Link at Aberdeen Station is a newly-developed, contemporary style community that is a stand-out property in the area,” said Mr. Jeremias. “Meridian successfully structured permanent financing on the property with favorable terms to replace the construction loan while the asset was in the middle of the lease-up process.”
About Meridian Capital Group
Founded in 1991, Meridian Capital Group is America’s most active deal maker and one of the nation’s leading commercial real estate finance and investment sales firms. In 2018, Meridian closed over $37 billion in financing through more than 3,500 transactions across more than 250 unique lenders and sold nearly $1 billion in commercial property. Since inception, the company has closed more than $300 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 represents 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.