Meridian Capital Group Secure $4.29M Refinance Loan For Philadelphia Multifamily

The multifamily property in Philadelphia, PA, was subject to a refinancing transaction. The loan amount secured for the deal was $4,294,000, with Encore Financial serving as the lender. The loan terms included a 7.22% fixed rate for a 5-year term with full term interest-only payments.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,294,000
• Lender: Encore Financial
• Brokers: Israel Leiner & Michael Hess - Meridian Capital Group
• Loan Type: Refinance
• Loan Terms: 7.22% Fixed 5-Year Term. Full Term IO

Israel Leiner and Michael Hess from Meridian Capital Group represented the parties involved in the transaction, showcasing their expertise in facilitating successful deals in the real estate market. The collaboration between the brokers and the lender ensured a smooth and efficient refinancing process for the multifamily property.