Meridian Arranges Financing for HGI Construction
NOVEMBER 27, 2007. Meridian Capital Group recently arranged financing in the amount of $13,805,000 for the ground-up construction of a 130-room Hilton Garden Inn on Lamar Boulevard. Managing Director Alex J. Katz of Meridian's Los Angeles office negotiated to secure a rate of 2.25% + LIBOR for a three-year, interest only term. The property is located adjacent to Six Flags and is only minutes from the Dallas Cowboys' new football stadium.
Founded in 1991, Meridian Capital Group LLC is one of the nation's largest mortgage brokerages serving the multifamily and commercial real estate sectors. The company is based in New York City with additional offices in New Jersey, Pennsylvania, Maryland, Illinois, Florida, California, and Texas. Working with a wide variety of lenders, Meridian finances transactions ranging from $500,000 to more than $500 million for multifamily, co-op, office, retail, hotel, healthcare, self-storage, industrial, and construction properties. Nationally, Meridian reported more than 2,500 transactions in 2006, totaling over $17 billion.