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Meridian Capital Sets Up $50M Financing For Harrison Station

HARRISON, NJ-Ironstate Development and Pegasus get a permanent mortgage for the 275 unit multifamily building, GlobeSt.com has learned exclusively.

By Antoinette Martin | Updated on September 18, 2012

HARRISON, NJ–Meridian Capital Group has negotiated $49,950,000 in permanent financing for the first multifamily rental building to open last year at the huge Harrison Station development here, GlobeSt.com has learned. The pioneer building was a joint venture by Ironstate Development and the Pegasus Group.

The 10-year Freddie Mac loan carrying an interest rate of 3.69% was provided by Beech Street Capital through its correspondent relationship with Meridian. David Cohen and Russ Drebin, both based in Meridian’s Iselin office, arranged the transaction.

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