Real Estate: Finance

Real Estate Weekly, June 5, 2002

Meridian Capital Group LLC announced the following transactions:

* Meridian procured a new mortgage for $35 million on 2 office buildings totaling 497,802 SF. The buildings are located on Livingston Street in Brooklyn, NY. The properties will benefit from a rate of 7% with a 10-year term. Aaron Birnbaum, and David Rosenberg negotiated this transaction.

* A new mortgage of $5.3 million was arranged by Meridian on an anchored mall & commercial building on Hempstead Turnpike in West Hempstead, NY. The loan featured a rate of 6.5% and a 7-year term. Scott Assouline negotiated the transaction.

* A new mortgage of $3.7 million was placed by Meridian on a 67-unit, 6-story multifamily building on Sickles Avenue in Nyack, NY. The loan featured a rate of 6.75% and a 10-year term. Aaron M. Birnbaum and Carol Shelby negotiated the transaction.

* A new mortgage of $2,437,500 was negotiated by Meridian on a 65-unit, 6-story multifamily building on St Paul's Court in Brooklyn, NY. The loan featured a rate of 6.5% and a 10-year term. Avi Weinstock arranged the transaction.

* A new mortgage of $1.725 million was arranged by Meridian on a 17,365-SF medical/office building in Park Slope, Brooklyn, NY. The property will benefit from a rate of 7%. David Ganz handled this transaction.

* Meridian placed a new mortgage of $1.6 million on a 18-unit, 4-story walkup building on Prospect Place in Brooklyn, NY. The loan featured a rate of' 6.625% and a 10-year term. The transaction was negotiated by Cary E. Pollack.

* A new mortgage of $1.1 million was placed by Meridian on a 18-unit, 5-story multifamily building on Amsterdam Avenue in New York City. The loan featured a rate of 6.750% and a 5-year term. The transaction was negotiated by Arthur Preisler.

* A new mortgage of $1 million was placed by Meridian on a 20-unit, 5-story mixed-use building on Mac Dougal Street in Manhattan. The loan featured a rate of 6.625% and a 10-year term. Moshe Majeski & Avi Weinstock negotiated the transaction.

Houlihan-Parnes Realtors, LLC/iCap Realty Advisors arranged a $2.25 million first mortgage for a two-story apartment complex in Hartford, Conn. The loan featured a 7.06% rate, a 10-year term, and a 30-year amortization schedule. Jeremiah A. Houlihan arranged the financing for this transaction.

Holliday Fenoglio Fowler, L.P. arranged a $9.45 million mortgage for an 110,000 SF shopping center in Marlton, N.J. Tom Didio, senior managing director, arranged the financing for this transaction.

Palisades Financial arranged a $450,000 equity bridge loan for a nursing home in Paterson, N.J.

Palisades Financial acquired the note, mortgage and trustee's interest as part of a Chapter 7 bankruptcy for a retail strip center in Sparta, N.J. The transaction was valued at $420,000.