Meridian Capital Arranges Refinancing on Fractured Condo in Tallahassee, FL

Meridian Capital Group arranged $9.3 million in financing to refinance a fractured condominium property located at 3000 S. Adams St. in Tallahassee, Florida. The loan was provided by a credit union and negotiated by Meridian’s senior managing director Morris Betesh, managing director Tamir Kazaz and VP Morris Dabbah from the company’s New York City headquarters.
The 122 recently renovated units are conveniently located within six miles of Florida A&M University, Florida State College and Tallahassee Community College; as well as near the Tallahassee International Airport, the Florida State Capitol and three local golf courses all within three miles of each other .
Morris Betesh commented on their success saying “We are extremely grateful to have worked hand-in-hand with a lender who had an eye for strong collateral and sponsorship which enabled us to close this fixed-rate cash out refinance just prior to stabilization while our client progressed nicely through lease up.” He further added that “Fractured condominium deals can be quite nuanced so getting this across the finish line in such market conditions is certainly an achievement for all parties involved.”