Birnbaum and Savariego of Meridian finance $17.7 million

Meridian Capital Group, LLC has negotiated $17.7 million in financing for two retail properties located at 714 and 720 Lexington Ave. The seven-year balance sheet loan was provided by a regional bank. Meridian executive VP, Aaron Birnbaum and VP, Tal Savariego, who are based in the company's New York City headquarters, negotiated this transaction. The two-story and four-story retail buildings contain a total of 10,128 s/f and are home to retailers that include The Body Shop and Steve Madden. The properties are located on the west side of Lexington Ave., between East 57th St. and East 58th St., alongside other retailers including Bloomingdales, Superdry, Victoria's Secret, H&M, Diesel, Swarovski and the Container Store. "Meridian arranged a competitively priced seven-year, fixed-rate balance sheet loan that provides the borrower with the flexibility to complete their value-add business plan of renovation and lease-up," said Savariego. "The borrower leased and built the space for Steve Madden at 720 Lexington Avenue and plans to similarly renovate 714 Lexington Ave. in the future." Founded in 1991, Meridian Capital Group, LLC 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, cooperative, office, retail, hotel, mixed-use, industrial, healthcare, student housing, self-storage and construction properties. www.meridiancapital.com