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9/02/15
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Meridian Capital Group has arranged a $27 mil loan for the acquisition and renovation of Indian Springs Village, a multifamily property located in Mesa, AZ, on behalf of a San Diego-based multifamily developer.
Indian Springs Village, located at 1031 South Stewart St, north of Hwy 60 and east of Hwy 101, totals 460 units. Property amenities include a fitness center, basketball court, outside storage, volleyball court, tennis court, clubhouse, two spas, four swimming pools and laundry facilities.
The three-year loan, provided by a debt fund, features a floating-rate, interest-only payments for the full-term and two one-year extension options. Meridan’s Seth Grossman, Sarah Kuebler and Ryan Gandell arranged the transaction.
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