Meridian Capital Group has returned to the agency lending space with the closing of a $173.1-million Freddie Mac refinance for The Monterey, a luxury residential property on Manhattan’s Upper East Side. The loan, arranged through NewPoint Real Estate Capital on behalf of longtime investor Rubin Schron, is Meridian’s first agency execution since Fannie Mae and Freddie Mac imposed restrictions in late 2023.
The 10-year loan, structured by Meridian’s Matt Texler, features a 5.07% interest rate, eight years of interest-only payments and a 40-year amortization schedule.
“This shows to the market that we’re not just technically back in the agency market — we are really back in a big way,” said Meridian CEO Brian Brooks.
Meridian expects to close its first Fannie Mae deal in the coming weeks and is targeting $500 million in agency volume by year-end. “This is our zero to one loan,” Brooks added. “Once you’re scoring, you’re scoring.”
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