Gervis of Meridian Capital arranges $325 million in acquisition financing; For RXR Realty's Leasehold Office Property Purchase

Meridian Capital Group, one of America's most active debt brokers, negotiated $325 million in acquisition financing for the purchase of the leasehold interest in an office property on behalf of RXR Realty LLC. The five-year loan, provided by GE Capital, features a competitive fixed-rate below 3% and interest-only payments for the full term. This transaction was negotiated by Meridian Capital Group senior managing director, Rael Gervis, who is based in the company's New York City headquarters. The 36-story office property, constructed in 1987 and located at 32 Old Slip between Front St. and South St., totals 1,161,400 s/f of space. The property is located on the Manhattan waterfront, across from the Pier 11 ferry terminal, and is within walking distance from the 1, 2, 3, 4, 5, N, R, J and Z subway lines as well as the Staten Island ferry. Tenants of the building also enjoy unobstructed views of the East River, Downtown Brooklyn and New York harbor. In addition, lower Manhattan continues to benefit from the significant development and redevelopment projects at the South Street Seaport, World Trade Center, Brookfield Place and Battery Maritime Hotel. The borrower, RXR Realty LLC, is one of the New York Tri-State area's premier real estate operating companies. With a significant presence in Manhattan and the New York Tri-State area, the Company has established a franchise uniquely positioned to provide the highest quality real estate and premier services.