Finance: Real Estate

Real Estate Weekly, March 19, 2003

Meridian Capital Group LLC announced the following transactions:

* Meridian Capital Group procured financing of $27 million on a 404 unit, Garden Apartment Complex in Belville, NJ. The loan featured a rate of 5.625% and a 10 year term.

* A new mortgage of $10 million was arranged by Meridian on (3) 6-story apt. buildings totaling 67 units, on East 50th Street in New York City. The loan featured a 10 year term. Aaron M. Birnbaum and Carol Shelby negotiated the transaction

* Meridian placed a new mortgage of $6.75 million on a 137 unit, 6 story apt. buildling on East 18th Street in Brooklyn, NY. The loan featured a rate of 6% and a 7 year term. Avi Weinstock negotiated the transaction.

* A new mortgage of $5.75 million was placed by Meridian on 76 residential units and 7 commercial units in a 6 story mixed-use building on 88 St. & 89 St. in Jackson Heights, NY. The loan featured a rate of 5.5% and a 7 year term. Avi Weinstock and Josh Rhine negotiated the transaction.

* Meridian negotiated a new mortgage for $4.8 million on a 16,000 square foot commercial building on 6 Ave. in Manhattan. The property will benefit from a rate of 5.875%, with a 5 year term. Jeffrey J. Weinberg & Moshe Majeski handled this transaction.

* A new mortgage was placed by Meridian for $3.675 million on a 108,000 sq. ft. industrial building on Boundary Road in Marlboro, NY. The property will benefit from a rate of 3.9 1%, with a 10 year term. David M. Rosenberg & Barry Spector negotiated this transaction.

The Carlton Group arranged a $15.5 million loan for a 150,000 SF office/showroom building on W. 38th St. in New York City. Michael J. Campbell, senior vice president, and Howard L. Michaels, chairman, arranged the financing for this transaction.

Holliday Fenoglio Fowler, L.P. arranged a $50 million mortgage loan for a 49,372 SF office building on Fifth Ave. in New York City. The loan featured a seven-year term. Michael Tepedino, managing director, and Edward Finnegan, associate director, arranged the financing for this transaction.

GCP Capital Group LLC announced the following transactions:

* A $12 million loan for a six-story apartment building on W. 45th St. in New York City;

* A $3.35 million loan for a five-story, 15,830 SF commercial building on Reade St. in New York City;

* A $2.19 million loan for a six-story apartment building in Riverside Drive in New York City;

* A $2.06 million loan for a six-story apartment building on Lincoln Road in Brooklyn, N.Y.;

* A $2.3 million loan for a six-story apartment building on Montgomery St. in Brooklyn, N.Y.;

* A $4 million loan for a six-story apartment building on Clarkson Ave. in Brooklyn, N.Y.

Paul Greenbaum, Matthew Classi, Adam Hakim, and Adam Brostovski arranged the financing for this transaction.