Meridian Capital Group, LLC negotiated $20.2 million in acquisition financing on behalf of an affiliate of American Realty Capital for its purchase of three retail and office buildings.
American Realty Capital initially financed the purchase using equity and by drawing on its credit facility. The company repaid the credit facility with a five-year loan arranged by Meridian. The new financing features a competitive fixed-rate under 3.5%. This transaction was negotiated by Meridian Capital managing director, Tal Bar-Or, who is based in the company's New York City headquarters.
The acquired properties occupy a prominent corner at the intersection of Kings Highway and Coney Island Ave. in the Midwood neighborhood of the city.
"The privilege of working with leading sponsors allows us to establish a relationship and play an advisory role rather than simply focus on an isolated transaction. In this case, we worked with our lending partner to understand the client's business plan and tailor the right solution," said Bar-Or.
Meridian Capital is one of the nation's largest commercial real estate finance and advisory firms. Meridian is headquartered in New York with offices in New Jersey, Maryland, Illinois, Florida, Arizona and California. Working with a broad array of capital providers, Meridian arranges financing for transactions ranging from $1 million to more than $500 million for multifamily, co-op, office, retail, hotel, mixed-use, industrial, healthcare, student housing, self-storage and construction properties. Tags: