The company provided a $28.4 million floating-rate loan to Jupiter RealtyCorp. of Chicago to help its purchase of Meridian Apartments, located inColumbus, OH.Meridian is a recently constructed, 480-unit garden apartment community. Thecomplex features two swimming pools, a fitness center and clubhouse. Unitfeatures include 9-foot ceilings, pre-wired unit security system andfireplaces.
Jupiter, with assets in excess of $1 billion, was founded in 1985 as aprivately held, multi-faceted firm that invests, develops and managescommercial real estate properties and businesses with a national andinternational scope.
The New York lending firm also provided a $63.5 million fixed-rate,five-year loan to Gregory Greenfield & Associates Ltd. to buy the 1 millionsf Westland Mall in Westland, MI.The property is anchored by Sears, JC Penney, Kohl's and Marshall Field's.The property underwent an extensive renovation two years ago and enjoysstrong occupancy and tenant sales, said mall officials.With the financing, several out-parcels will be built on the perimeter of thecenter.
Gregory Greenfield & Associates, Ltd. is controlled by Atlanta-basedreal estate investor, Gregory Greenfield. His portfolio includesmore than 8 million sf of retail properties throughout the UnitedStates.
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