November 29, 2020
Meridian Capital Group has arranged a $34.6 million cash-out refinance for the Greenhouse Apartments, a 489-unit multifamily property in Kennesaw, GA.
Located at 3885 George Busbee Parkway, the property consists of 489 one-, two-, and three-bedroom apartments featuring high ceilings, walk-in closets, central heat and air, in-unit washers and dryers, and patios and balconies. Amenities include swimming pools, tennis courts, a fitness center, clubhouse and playground. The property is also located within walking distance of Kennesaw State University, which has an annual student population of 35,600.
Seth Grossman and Sarah Kuebler of Meridian’s Southern California offices secured the 12-year Fannie Mae financing on behalf of the undisclosed borrower through lender Capital One Agency Finance. Terms of the financing included a 2.61% rate with full-term interest-only payments.
For comments, questions or concerns, please contact David Cohen