ISELIN, NJ – Riding the wave of mortgage finance business generated by unprecedented low interest rates, Meridian Capital Group is expanding its regional operations and has taken new and expanded space in Iselin.
“Meridian’s New Jersey office closed more than $1.5 billion in financing transactions and is currently on track to substantially exceed last year’s volume,” said Israel Schubert, who heads the New York City-based company’s Iselin office. Recent transactions include a $32.9-million loan for the 93-unit Berkshire at the Shipyard apartment building in Hoboken and a $27.2-million loan for the 241-unit Steward’s Crossing multifamily property in Princeton.
Meridian, which currently has 35 mortgage professionals in Iselin, has recently moved to a newly built-out 10,500-square-foot office at 517 Route 1 South, connected to a hotel and conference center. In a release, Schubert called the move part of a “continuing expansion program.”
The Iselin office is likely to add to staff in both the origination and loan placement fields, he said.
“The firm has been engaging in larger and more complex assignments for many of the region’s largest and most sophisticated borrowers, and has been working closely alongside Beech Street Capital, through a correspondent relationship, to provide best-in-class Fannie, Freddie and HUD financing execution for many of Meridian’s clients,” noted Schubert.
Meridian New Jersey covers a large territory stretching from Boston to Washington, DC, with a focus on New Jersey, Pennsylvania and Delaware. The company arranges financing for transactions over $1 million for multifamily, co-op, office, retail, hotel, mixed-use, industrial, healthcare, student housing, self-storage and construction properties.
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