May 17, 2016
Meridian Capital has arranged $218.2 million in financing for acquisition of the 275-unit Wayne Village in Wayne, NJ, and the 1,142-unit Pleasant View Garden apartments in Piscataway, NJ. Meridian worked on behalf of buyer Cammeby’s International LTD to secure the loans.
The 10-year Fannie Mae loans were provided by Capital One Multifamily Finance. They feature fixed rates of 3.89%, with seven years of interest-only payments. Abe Hirsh and Zev Karpel in Meridian Capital’s New York City headquarters arranged for the financing.
Wayne Village is located at 1353 Valley Rd. in Wayne. Pleasant View Gardens’ address is 258 ½ Carlton Avenue in Piscataway.