Meridian Arranges Financing for North Bergen, NJ Industrial Recap

Tal Bar-Or, senior managing director, Meridian Capital Group

NORTH BERGEN, NJ—Meridian Capital Group arranged $23.5 million in CMBS financing for the recapitalization and acquisition of an industrial property located in North Bergen, NJ on behalf of Sitex Group and EXP.

“This transaction involved a complicated recapitalization which allowed Sitex Group to monetize their value enhancements to the property since acquisition,” says Tal Bar-Or, senior managing director with Meridian. “Meantime, EXP was able to take a more direct stake in the property in which it continues to grow a successful business.”