$14.31 Million Refinance Secured For Multifamily Portfolio In Northern & Central NJ

The transaction involves a multifamily asset located in the Northern & Central NJ portfolio. The loan amount secured for this transaction is $14,310,000, categorized as a refinance. The loan terms include a 5.75% interest rate, a 30-year amortization period, a stepdown prepayment penalty, with no bank fee, non-recourse, and no deposits required.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $14,310,000
• Loan Type: Refinance
• Loan Terms: 5.75% interest rate, 30-year amortization, stepdown prepayment penalty, no bank fee, non-recourse, no deposits required

Key individuals involved in the transaction include representatives Steven Tessler, Joshua Lerer, and Dovid Kaufman from Meridian Capital Group. Notably, the loan was arranged for a borrower who has established a true relationship with the brokers, highlighting the collaborative effort in securing favorable financing conditions.