November 12, 2020
Meridian Capital Group arranged $513 million in financing to refinance eight multifamily properties included within the Beacon Portfolio in Maryland, Virginia, and Pennsylvania on behalf of Harbor Group International. The 10-year Freddie Mac loans were provided by Capital One Agency Finance and feature floating, SOFR-based rates and five years of interest-only payments.
These transactions were negotiated by Meridian senior managing director Abe Hirsch, managing director Zev Karpel and associate Sean Anderson, all of the company’s New York City headquarters. SVP Michael Maidhof and VP Molly Steckler led the financing on behalf of Capital One.
The properties total 3,227 studio- to three-bedroom units and include Braddock Lee Apartments in Alexandria, VA; Cinnamon Run, Peppertree Farm, and Westchester West in Silver Spring, MD; New Orleans Park in Secane, PA; Ridley Brook Apartments in Folsom, PA; and Racquet Club East and Racquet Club South in Levittown, PA.
Pictured: New Orleans Park in Secane, PA.
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