Gervis of Meridian Capital Group arranges $134.3 million mortgage

Meridian Capital Group, LLC negotiated a $134.3 million mortgage to refinance a class A office property on behalf of Spitzer Enterprises. The 10-year CMBS loan features a fixed-rate of 4.61% and interest-only payments for the full term. This transaction was negotiated by Meridian managing director, Rael Gervis, who is based in the Company's New York City headquarters. This 13-story office property totals 417,383 s/f and is located at 1615 L St. The property underwent a major capital improvement plan. "The Spitzer family is well-regarded in the real estate industry and owns several class-A office buildings in the immediate market," said Mr. Gervis. "Meridian leveraged its unique and long-standing relationships within the lending community, along with the top quality sponsorship, to negotiate very favorable terms despite the volatile interest rate environment," he added.