Meridian Capital Group arranged $9.3 million in financing to refinance a fractured condominium property in Tallahassee. The loan was provided by a credit union and was negotiated by Meridian senior managing director Morris Betesh, managing director Tamir Kazaz and VP Morris Dabbah, all based in the company’s New York City headquarters.

Located at 3000 S. Adams St. in Tallahassee, the property features 122 units. All were recently renovated and are located within six miles of Florida A&M University, Florida State College and Tallahassee Community College. It’s also convenient to Tallahassee International Airport, the Florida State Capitol and three local golf courses within three miles.

“We are extremely grateful to have worked hand-in-hand with a lender who had a keen eye for strong collateral and sponsorship, and were able to close a fixed-rate, cash-out refinance just prior to stabilization as our client was progressing nicely through lease-up” said Betesh. “Fractured condominium deals are always a bit nuanced, so getting this across the finish line in a market with tightening liquidity is a big win for all parties involved.”