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August 2019

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Development

Meridian inks $21.3 million loan for 450-unit rental property in Burlington Co.

The developer of a 450-unit luxury apartment property in Willingboro has landed more than $21 million in financing, in a transaction arranged by Meridian Capital Group.

Brokers with the firm represented the borrower, Weiss Properties, in sourcing the $21.3 million loan for the complex known as The Avery. The developer will use the 12-year agency loan, which features seven years of interest-only payments, to refinance the property at 10 Lincoln Square.

Development

Construction on Major Florence Development to Begin Early Next Year

The mixed-use development will bring 240 apartments, a 104-room Marriot Town Place Suites hotel and a restaurant to the intersection of Route 130 and Cedar Lane.

FLORENCE — The developer behind a mixed-use project that will bring 240 apartments, a 104-room Marriott Town Place Suites hotel and a restaurant to the intersection of Route 130 and Cedar Lane announced Tuesday that construction is expected to begin early next year.

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