The yet-to-be-named platform is acquiring the assets and liabilities of Barings Multifamily Capital LLC, pending approvals from federal government-sponsored enterprises.
Meridian Capital Group and Barings Announce Partnership to Acquire Barings Multifamily Capital and Create New Entity Led by David Brickman
Meridian to Take a Majority Control Position in the New Agency Lending Platform Which, Pending Regulatory Approvals, Will Participate in Various Lending Programs Including Fannie Mae, Freddie Mac, and FHA/Ginnie Mae
Brickman, Former CEO of Freddie Mac, to Join as Chief Executive Officer of the New Meridian and Barings Partnership and Serve as Executive Chairman of Meridian Capital Group
Meridian Capital Group Announces New Partnership with Stone Point Capital to Fuel Company s Continued Growth
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Former Freddie Mac CEO David Brickman and Meridian Capital Group CEO Ralph Herzka (Freddie Mac; Herza by Studio Scrivo)
Freddie Mac’s recently departed CEO is now heading up a new agency-lending platform backed by Meridian Capital Group and the investment firm Barings.
David Brickman, who stepped down from the quasi-government agency this month, will take the lead at the yet-unnamed platform, Bloomberg News reported.
“We have a significant opportunity to create one of the leading lenders in the multifamily commercial real estate space,” Brickman told the publication. “The combination of low interest rates and what is hopefully going to be a degree of recovery and stabilization in 2021 with the vaccine and additional stimulus should result in a strong year with more than $300 billion in total origination.”
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Meridian Capital Group announced today that its Institutional Investment Sales Group, led by Helen Hwang, has advised Park Row Realty, L.P. on the residential part of the sale of 15 Park Row to Atlas Capital Group, LLC, while Meridian Senior Managing Director, Morris Betesh, and Vice President, Alex Bailkin, arranged $109 million in financing for the acquisition.
Located on City Hall Park, and steps from both the World Trade Center Transportation Center and South Street Seaport, 15 Park Row is a luxury rental building that is easily accessible from Midtown and the Financial District and is within walking distance of nine subway lines. Originally the tallest building in the world when finished in 1899 as an office building, the property was converted to residential use in the early 2000s. The building features amenities including a fitness center, children’s playroom and tenant lounge, as well as newly constructed penthouse apartments.
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