Hakim will have the title of senior managing director and Murad will join the company as a senior vice president, Commercial Observer reported. Andrew Iadeluca, formerly an associate director at Eastern, will join Meridian as a director.
Meridian chairman and CEO Ralph Herzka said that with the new hires, the company aims to “substantially increase our market share in the development and redevelopment space.”
Hakim and Murad worked together for six years starting at the brokerage GCP Capital Group in 2012 before joining Eastern in 2015. Iadeluca has worked with the pair for the past several years.
The team closed more than $10 billion in transactions during their time at Eastern consolidated, which ended operations in July.
Among the brokers’ larger transactions were a $350 million construction loan they arranged for Fosun International and J.D. Carlisle Development Group’s 126 Madison Avenue condominium tower in Nomad, and a $215 million construction loan for Cape Advisors’ condo project at 537 Greenwich Street. [CO] – Rich Bockmann