Bar-Or of Meridian Capital Group arranges $48 million in financing; Refinance of 1156 Avenue of the Americas on behalf of APF Properties

Meridian Capital Group, one of America's most active debt brokers, negotiated a $48 million permanent loan to refinance an office property on behalf of APF Properties. The seven-year loan, provided by a regional balance sheet lender, features a competitive fixed-rate in the mid-3% range, a five-year extension option and five years of interest-only payments followed by a 30-year amortization schedule. This transaction was negotiated by Meridian Capital Group managing director, Tal Bar-Or, who is based in the company's New York City headquarters. The nine-story office property, located at 1156 Ave. of the Americas, totals 71,900 s/f of office space and 8,000 s/f of retail space. The property's location, situated at the corner of West 45th St. and Ave. of the Americas, is two blocks north of Bryant Park. The central location of the property provides its tenants with access to numerous restaurants, retailers, public green spaces, and all major forms of public transportation. "We are pleased to have again had the opportunity to work with the talented team at APF Properties to tailor a loan that suits their specific financing needs," said Bar-Or. "This balance sheet financing will enable APF Properties to execute its improvement plan for the property, while locking in a long-term favorable interest rate and providing flexibility," he added.