Search
 

10-Year $12M Loan Goes Towards Apt. Buy

SALINAS, CA-The Freddie Mac loan features a rate of 4.15% with two years of interest-only payments and was provided to Salinas Capital Partners LP by Beech Street Capital.

By Natalie Dolce | Updated on March 07, 2013

SALINAS, CA-GlobeSt.com has exclusively learned that Meridian Capital Group LLC has negotiated $12.3 million in acquisition financing on behalf of Salinas Capital Partners LP for the purchase of the Northridge Park II Apartments located in the city of Salinas in Monterey County, CA.

The 10-year Freddie Mac loan features a rate of 4.15% with two years of interest-only payments and was provided by Beech Street Capital through its correspondent relationship with Meridian. This transaction was negotiated by Meridian Capital Group managing director, Ben Grossman, who is based in the company’s Los Angeles office.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.