The 15-year loan was provided by an undisclosed life insurance company. The deal was negotiated by Marvin Jeremias, managing director at Meridian, who is based at the firm’s Iselin office.
Link at Aberdeen Station, located at 1101 Schindler Drive, is a luxury multifamily community with five, five-story buildings with 227 studio- to two-bedroom units. It boasts amenities including a gated entry, resident lounge, private conference rooms, swimming pool, electric car charging stations, and 24-hour onsite maintenance.
The property is less than 30 miles south of Manhattan and next to New Jersey Transit’s Aberdeen-Matawan train station.
“The Link at Aberdeen Station is a newly-developed, contemporary style community that is a stand-out property in the area,” Jeremias said. “Meridian successfully structured permanent financing on the property with favorable terms to replace the construction loan while the asset was in the middle of the lease-up process.”