The Link at Aberdeen Station in Aberdeen — Courtesy: Meridian Capital Group
By Joshua Burd
BNE Real Estate Group has secured $52 million in financing for a newly built, 227-unit apartment complex in Aberdeen, under a transaction arranged by Meridian Capital Group.
In a news release Monday, Meridian said the developer will use the 15-year loan to refinance the Link at Aberdeen Station, a five-building community at 1101 Schindler Drive. A life insurance company is providing the financing, which features five years of interest-only payments.
Meridian Managing Director Marvin Jeremias negotiated the deal out of the firm’s Iselin office.
“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.”
Completed late last year, the Link at Aberdeen Station is made up of five-story buildings with layouts ranging from studios to two-bedroom units. Amenities include a resident lounge, private conference room, outdoor swimming pool and electric car charging stations.
Residents also benefit from a location adjacent to NJ Transit’s Aberdeen-Matawan train station, which offers direct service to both Manhattan and stops along the Jersey Shore.