Meridian Capital Group, America’s most active dealmaker, arranged $47 million in acquisition financing for The Jamison, a luxury multifamily property in Kissimmee, FL on behalf of Lexin Capital.
The seven-year loan, provided by a balance sheet lender, features a rate of 2.85% and three-and-a-half years of interest-only payments followed by a 30-year amortization schedule. This transaction was negotiated by Meridian Senior Managing Director, Drew Anderman, and Directors, Alan Blank and Elliott Kunstlinger, who are all based in the company’s New York City headquarters.
Located at 1040 Jamison Loop, The Jamison is a newly constructed, class-A multifamily property currently in lease-up. The garden-style property contains 315 units across seven four-story buildings with an average apartment size of 1,061 square feet. The units feature top-of-market finishes, including chef-inspired kitchens with stainless steel Whirlpool appliances, granite countertops, and under counter lighting, in addition to wood-style plank flooring, smart home technology, and screened-in balconies or solariums. Residents benefit from an unrivaled amenity package, featuring a resort-style zero entry swimming pool complete with poolside cabanas, a clubhouse with billiards tables, shuffleboard, and pinball, a state-of-the-art fitness center with Aktiv Virtual Training, and Hub by Amazon 24-hour package pickup. The Jamison is also pet friendly, offering a leash-free dog park.
Situated just off US-192 and one-quarter of a mile from Florida’s Turnpike SR91 exit, residents enjoy exceptional access to points throughout the Orlando MSA and beyond, in addition to proximity to the area’s top employers, including NEOCity, Osceola Regional Medical Center, Tupperware HW, and Lake Nona’s Medical City.
“We are very excited to add another property to Lexin’s portfolio in Central Florida,” said Metin Negrin, Founder of Lexin Capital. “The Meridian team did a great job securing this financing for The Jamison acquisition in a relatively short period of time to close for a pre-stabilized property.”
“This acquisition provided the borrower with favorable long-term, fixed-rate financing prior to the property reaching stabilization at approximately 80% leased,” said. Mr. Anderman.
Founded in 1991, Meridian Capital Group is America’s most active dealmaker and one of the nation’s leading commercial real estate finance, investment sales and retail leasing advisors. In 2019, Meridian closed over $40 billion in financing across more than 250 unique lenders. Meridian represents many of the world’s leading real estate investors and developers and the company’s expansive platform has specialized practices for a broad array of property types including office, retail, multifamily, hotel, mixed-use, industrial, and healthcare and senior housing properties. Meridian is headquartered in New York City with offices in New Jersey, Maryland, Illinois, Ohio, Florida, and California.