Meridian Capital Group arranged $38 million in permanent financing for the refinance of a mixed-use property in Brooklyn, NY on behalf of Bonjour Capital.
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The seven-year loan, provided by Mercantil Bank, features a rate of 170 basis points over the seven-year swap rate and a 30-year amortization schedule. This transaction was negotiated by Meridian Managing Director, Shaya Ackerman.
The mixed-use property, located at 172 Montague Street in Brooklyn Heights, totals 62 marketrate residential units and 4,900 s/f of retail space. The newly developed property features a 24-hour doorman, landscaped rooftop terrace, fitness center and bike storage.
