Meridian Capital Group has arranged a $63,503,000 Freddie Mac loan for Wayne Village, a 275-unit garden-style apartment community in Wayne, NJ. The property is located at 27 Lancaster St. and sits within one of Northern New Jersey’s more affluent townships, offering residents a suburban setting less than 20 miles from Manhattan.
The financing was negotiated by Matt Texler of Meridian Capital Group, who secured the agency loan through Capital One. While specific loan terms were not disclosed, the transaction underscores the continued availability of Freddie Mac capital for well-performing multifamily assets in the New York City metropolitan area.
Wayne Village consists of 19 residential buildings and features a mix of one- and two-bedroom apartments, including town house-style residences. Originally built in 1965, the community has been upgraded over time and is described as well-maintained and institutionally operated, with a robust amenity offering supporting its competitive position in the local rental market.
Texler characterized Wayne Village as a durable multifamily asset benefiting from a strong New York City metro apartment market that he noted continues to outperform many other regions nationally. The combination of institutional operations, a sizable unit count and an affluent suburban location near Manhattan reinforces the property’s appeal to long-term multifamily investors and lenders focused on stable, income-producing assets.
The transaction highlights ongoing lender interest in established, garden-style apartment communities in Northern New Jersey, particularly those with demonstrated operating histories and access to major employment centers in the broader New York City area.
