Meridian Capital Group Arranges $23.9M in Construction Financing for 118-Unit Community in Florida

DELRAY BEACH, Fla. — Meridian Capital Group has arranged $23.9 million in financing for the development of a three-story, 118-unit seniors housing community in Delray Beach, approximately 50 miles north of Miami.

The five-year loan, provided by a regional balance sheet lender, features a floating rate of 3.25 percent over LIBOR and three years of interest-only payments.

Ari Adlerstein, Ari Dobkin and Josh Simpson, all based in the Meridian’s New York City headquarters, arranged the financing. 

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