Meridian Capital Group recently arranged $21.5 million in financing for the refinance of the Sturbridge Square Apartments multifamily property in Westlake, Ohio, on behalf of The Hayman Company.
The 10-year loan, provided by a balance sheet lender, features a competitive fixed rate of 3.88 percent. This transaction was negotiated by Meridian senior vice president Jonathan Zilber, who is based in the company’s Beachwood, Ohio, office.
Sturbridge Square Apartments, located at 1500 Westford Circle, is a three-story, 270-unit resort-style garden apartment complex. The property consists of one- and two-bedroom apartments, featuring wood-burning fireplaces, private patios, large closets and ceiling fans.
Community amenities include barbeque and picnic areas, a clubhouse, courtyard, covered parking, a Jacuzzi, pool and a recreation room. Sturbridge Square Apartments is situated off Interstate-90, and is a 20-minute drive from the Cleveland Hopkins International Airport.
