News & Insights
Eliot Spitzer’s Latest Resi Tower Set to Rise With $96M Starwood Construction Loan
Eliot Spitzer’s new apartment tower at 425 Summit Avenue in Jersey City, N.J., is off to the races after locking down construction financing, Commercial Observer can first report. Starwood Property Trust provided the $96 million loan, while Meridian Capital Group arranged the debt on behalf of Spitzer Enterprises, sources said.
On Trend Even in an Off Market: Meridian Capital Group’s David Schechtman
Many believe that in commercial real estate, it is best to specialize in a subsector rather than to operate as a “jack of all trades.” David Schechtman, senior executive managing director at Meridian Investment sales, has never heeded this advice: diversity has been the hallmark of his 15-year career as an investment sales broker. This has allowed him to weather ups and downs in the market, including the recent dislocation caused by the COVID-19 pandemic, and close more than 730 deals over the course of his career, encompassing more than 900 buildings and equating to approximately $7.5 billion in value.
Meridian Capital Group Arranges $155 Million in Financing for PMC’s Riverwalk Tower in Philadelphia’s Center City Neighborhood
Meridian Capital Group, America’s most active dealmaker, arranged $155 million in financing to refinance PMC’s Riverwalk tower, a mixed-use property in Philadelphia, PA.
Meridian Provides $57M for Gainesville Apartment Acquisitions
Meridian Capital Group arranged $57 million in financing for the purchase of Indigo Apartments and Peaks at Gainesville, two multifamily properties in Gainesville, GA. Between them, the two properties total 407 units. The two uncrossed, interest-only loans were provided by a debt fund lender with rates in the very low 3% range. The transactions were negotiated by senior managing director Seth Grossman and SVP Sarah Kuebler of Meridian’s San Diego office.