Meridian Capital Group Refinances 70-Unit Multifamily Property In Los Angeles With $13.4M Loan

The property involved in this transaction is a multifamily building located at 1621 North Mccadden Place in Los Angeles. The building consists of 70 units.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $13,400,000
• Loan Type: Refinance
• Loan Terms: 5.50%, Seven Years Fixed, Two Years Of Interest Only Payments Followed By A 30 Year Amortization
• Lenders: Meridian Capital Group
• Brokers: David Oheb & Max Jacobson - Meridian Capital Group

David Oheb and Max Jacobson from Meridian Capital Group represented the borrower in this deal. Meridian leveraged a core lending relationship to provide a custom-tailored loan with market-best terms. The loan was used to refinance the borrower out of their construction loan. It is worth noting that the property was only 20% occupied at the time of closing.

For more information on how Meridian can add value to your portfolio, please contact David Oheb at 212-612-0193 or [email protected].