Meridian Capital Group arranged $41 million in acquisition financing for Nine Hollywood, a newly constructed multifamily property in Hollywood, FL. Churchill Real Estate supplied the original $43M construction loan for developer Giuseppe Iadisernia.
The 24-month loan was provided by a balance sheet and bridge lender.
Located at 320 South Federal Highway in Hollywood, FL, Nine Hollywood is a newly constructed, class-A multifamily property purchased after the building’s Temporary Certificate of Occupancy was issued. The property contains 204 studio-, one-, and two-bedroom units. Amenities include a swimming pool, fitness center, and fully equipped lounge and game room.
Meridian’s Ben Nevis added, “This financing allowed for our client to acquire the property at TCO and complete the lease-up of the building. We were able to find a lender who understood the high quality of this asset and its strong location,” said Mr. Nevid.
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