July 20, 2017
Early Bird Alert: Connect Apartments is planned for September 28th in Los Angeles. Here’s where to get more information and register.
Meridian Capital Group arranged $21.7 million in ground-up construction financing for the development of the Meyers Group’s Avery Place at Pompano, an eight-story multifamily property in Pompano Beach, FL. Upon completion, the 163,000-square-foot Class A multifamily property will include 145 luxury rental units and an attached garage.
The three-year construction loan, provided by a balance sheet lender, features a floating rate of 3.50% over 30-day LIBOR, full-term interest-only payments and two one-year extension options. Meridian’s Noam Kaminetzky and Sam Grunberger negotiated the transaction on behalf of the Coral Gables, FL-based developer.
Avery Place at Pompano, located at 225 North Federal Highway, is situated off of Federal Highway, roughly 10 miles north of Fort Lauderdale.
For comments, questions or concerns, please contact Dennis Kaiser