Gervis and Herzka of Meridian negotiate $220 million conduit loan

Meridian Capital Group, LLC negotiated a $220 million conduit loan on behalf of a N.Y.-based partnership to finance its acquisition of the U.S. Steel Tower. The 10-year permanent financing features a favorable fixed-rate and was provided by UBS. Rael Gervis, a managing director based in Meridian's N.Y.C. headquarters, negotiated this transaction alongside Meridian's CEO, Ralph Herzka. The 64-story, 2.3 million s/f class-A office building is located at 600 Grant St. and was designed by the Harrison, Abramowitz & Abbe architecture firm and completed in 1970. The U.S. Steel Tower is architecturally notable for its triangular shape with indented corners and its use of corrosion resistant steel in its façade.