Meridian Capital Group has secured $16,350,000 in financing on behalf of BRG for Dale Gardens, a 103-unit multifamily complex located at 84-17 125th St. in Kew Gardens. The loan was provided by JPMorgan Chase and was placed by Meridian’s Avi Weinstock and Chesky Klein.
The financing was structured with a 10-year term at a fixed rate of 5.95%. The refinancing enables the sponsor to lock in long-term, fixed-rate debt while positioning the property for continued stable operations.
“BRG is a well-established owner and operator with deep experience across the multifamily space,” said Weinstock. “JPMorgan Chase was highly responsive throughout the process, and together with our team we were able to structure a long-term, fixed-rate solution that met the sponsor’s objectives and delivered certainty of execution in a dynamic rate environment.”
Dale Gardens is a pre-war garden-apartment complex comprising multiple buildings, with 103 residential units arranged around an interior garden.
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