Meridian lends $13m to Texas properties.Meridian Capital Group recently secured financing totaling $13.675 million for the refinance of Canyon Crossing II and Indiana Village, two class B properties located in Lubbock, Texas “Lubbock” redirects here. For other uses, see Lubbock (disambiguation). Lubbock is the 10th-largest city in the state of Texas.[1] Located in the northwestern part of the state—a region known historically as the Llano Estacado . Jacob Katz Jacob Katz (1904-1998) was a Jewish historian residing in Israel. He specialized in anti-Semitism and the Holocaust. His works in Hebrew provided much of the basis for scholarly analyses of anti-Semitism. and Mathew Texler, of Meridian's Maryland office, negotiated this transaction. The 10-year loan carries a rate in the low 5%'s. Canyon Crossing II, built in 1971, features 208 units, while the 288-unit Indiana Village was completed in 1983. These garden apartments are located within a five-mile radius of Texas Tech University, which has a current enrollment of 28,000. Approximately 85% of the tenant base in these properties is students, contributing to the 93% occupancy rate Noun 1. occupancy rate - the percentage of all rental units (as in hotels) are occupied or rented at a given time pct, per centum, percent, percentage - a proportion in relation to a whole (which is usually the amount per hundred) . Lubbock is the economic and retail center for a 40,000 square mile market area, spanning 26 counties in West Texas and Eastern New Mexico Eastern New Mexico is a region of the U.S. state of New Mexico. The region is sometimes termed the High Plains. It is generally located at an altitude of over 4,000 feet and is mostly characterized by relatively level terrain. . Major national firms, such as FedEx and Airborne Express Airborne Express (IATA: n/a, ICAO: ABX, and Callsign: Abex) was an express delivery company and cargo airline. Headquartered in Seattle, Washington, its hub was at Wilmington, Ohio. , have regional distribution centers headquartered in Lubbock to take advantage of its strategic position to the Western U.S. |
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