Meridian Capital Group, one of the leading national commercial real estate finance and advisory firms, negotiated a $40 million loan for the purchase of an office property on behalf of a partnership led by the Aini family.
The five-year loan, provided by a regional balance sheet lender, features a fixed-rate of 3.5% and interest-only payments for the full term. This transaction was negotiated by Meridian Capital Group senior managing director, Rael Gervis, and senior vice president, David Hayum, who are both based in the company's New York City headquarters.
The 12-story office property, totaling 90,000 s/f, is located at 145 West 45th St. close to both Times Sq. and Grand Central Station as well as and numerous subway lines.
"Meridian leveraged our long-standing relationship with the lender to obtain full-term interest-only financing which frees up a substantial amount of cash flow, giving our client flexibility to reposition the building," said Hayum. Tags: