Meridian Capital Group arranged $26.2 million in acquisition financing for The Tower and The Lofts at OPOP, luxury multifamily properties in Saint Louis. Meridian provided this funding on behalf of buyer Strategic Properties of North America.
The 10-year loans feature fixed rates of 4.79% and 4.84%, and five years of interest-only payments. Both transactions were negotiated by Meridian’s Shaya Ackerman, Shaya Sonnenschein and Alex Izso.
The properties, located at Old Post Office Plaza in downtown Saint Louis, contain a total of 181 units. The Tower is a newly built 25-story premier high-rise building consisting of 128 luxury apartments. The Lofts is a fully rehabilitated historic building with 53 luxury apartments.
