Meridian Capital has secured a $17.7 million Fannie Mae first mortgage loan for Broadway Terrace, a collection of 131 garden-style apartments in New York City. The loan will be utilized to refinance the property’s current debt and was arranged by KBREC’s Alan Isenstadt and John Ward. Located in Washington Heights and Fort George, the eight four-story residential buildings were constructed in 1927.
This refinancing opportunity allowed Meridian Capital to provide an advantageous solution for their client that enabled them to move forward with their business objectives while achieving cost savings through lower interest rates on the new debt structure. The successful transaction demonstrates Meridian Capital’s expertise at delivering tailored financing solutions that meet clients’ needs across all asset classes throughout New York City and beyond.
