Meridian Capital Group arranges $15M in financing for multifamily property in Somerville

By Emily Bader
Somerville | May 11, 2018 at 7:00 am

Meridian Capital Group, a dealmaker, announced Thursday it has arranged $15 million in construction financing for a multifamily property in Somerville on behalf of developer Robert Weiss of Weiss Properties.

The Davenport, located at 12 Davenport St., will feature four stories with 60 one- and two-bedroom units atop a single-story 68-space parking garage. Amenities include a recreational area, a fitness center, storage lockers and a common-area lounge.

Based at Meridian’s New York City headquarters, Shaya Ackerman, Meridian managing director, and Shaya Sonnenschein, senior vice president, negotiated the financing for the deal.

“Shaya Ackerman and Shaya Sonnenschein are both professional and have a tremendous grasp of the financial market,” said Robert Weiss. “I am glad we were able to continue our relationship with the financing of The Davenport.”

Emily Bader | ebader@roi-nj.com | emilybader