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Meridian Capital Secures $115M for Brooklyn Asset

July 20, 2018 / Corina Stef

Meridian Capital Group has secured a $115 million cash-out refinance for an upcoming 302-unit community in Brooklyn. The company worked on behalf of borrower Hampshire Properties, which is currently developing a community in Jersey City, N.J. Square Mile Capital provided the loan. According to Yardi Matrix, completion is slated for March 2019. The property will be located at 1277 E. 14th St., in the borough’s family-oriented Midwood neighborhood. The site previously housed the Shulamith School for Girls, as well as Vitagraph Studios. Multiple subway and bus lines provide easy access throughout the area, while Manhattan is 30 minutes away.