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Meridian Arranges $61M for Acquisition

NEW YORK CITY-Meridian Capital Group facilitates the financing for Lalezarian Properties' purchase of Rockrose Development Corp.'s 15 Cliff St. here.

By Natalie Dolce | Updated on November 14, 2007

(Read more on the multifamily market and more on the debt and equity markets.)

NEW YORK CITY-Locally based Meridian Capital Group LLC arranged financing on behalf of their client, Lalezarian Properties, in the amount of $61 million for the acquisition of a luxury rental building, GlobeSt.com has learned. The building, sold by locally based Rockrose Development Corp., has both commercial space and parking, and is located at 15 Cliff St. in the Financial District.

Meridian was unable to disclose the identity of the lender at this time. Charles Grussgott and Abe Hirsch of Meridian’s New York City office negotiated on behalf of Lalezarian Properties to secure this loan.

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