Brooklyn, NY Meridian Capital Group negotiated $7.7 million in acquisition financing for a 42,000 s/f triple net leased school on behalf of Guardian Realty.
The five-year fixed-rate loan was provided by a regional balance sheet lender and features two years of interest-only payments. This transaction was negotiated by Meridian vice president, Mark Brachfeld, who is based in the company’s New York City headquarters.
The 42,000 s/f property is located at 2045 Linden Blvd. and is occupied by a school on a triple net lease.
“This was a unique investment opportunity with outstanding in-place cash flow, along with great upside,” said Myer Kahan, CFO and head of acquisitions at Guardian Realty.
“While this property is somewhat unique in its tenancy, Meridian was able to identify a lender capable of underwriting the school’s lease and achieved strong and accretive debt terms for Guardian Realty,” said Brachfeld.