Meridian Director Arranges Construction Takeout Financing for Davie Multifamily
Shalimar at Davie receives a $35.5 million, 10-year loan after almost filling the new 240-unit complex.
August 08, 2017 at 11:00 AM
3 minute read
One of the nation's leading commercial real estate finance and investment sales firms has secured $35.5 million in construction takeout financing for a new luxury multifamily property in Davie that is almost at full occupancy.
Meridian Capital Group arranged the 10-year loan for Shalimar at Davie on behalf of the TM Real Estate Group, with a fixed rate of 4.04 percent and full-term, interest-only payments.
The takeout mortgage pays off the construction lender on the property, which has 234 of its 240 units already occupied.
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