Birnbaum, Levine and Savariego of Meridian negotiate $50 million loan

Meridian Capital Group, LLC negotiated $50 million in financing on behalf of Flagship Partners, LLC for its retail property located at 25 East Oak St. The 10-year CMBS loan was provided by Goldman Sachs and features a competitive fixed-rate. Meridian executive vice president, Aaron Birnbaum, managing director, Ronnie Levine, and vice president, Tal Savariego, who are all based in the company's New York City headquarters, negotiated the transaction. The three-story retail building contains 38,445 s/f of rentable space as well as 8,000 s/f of common areas and storage space. The property is located on the corner of East Oak St. and North Rush St., in the heart of Chicago's famed Gold Coast. The tenants at 25 East Oak Street include top-name retailers Hermes, Giorgio Armani and Vera Wang. "Meridian was able to quickly evaluate our client's financing options, vet the loan to our broad national network of the most active CMBS lenders and develop an effective solution tailored to our client's financing needs," said Levine.