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Brokerage
Posted: July 29, 2013
Jeremias and Jackson of Meridian Capital negotiate $7.5 million in financing
Meridian Capital Group, LLC, negotiated the $7.5 million refinancing of the Highwoods Sq. shopping center on behalf of CB Development.
The 10-year CMBS loan features a fixed-rate of 4.11% and was provided by MC-Five Mile Commercial Mortgage Finance, LLC. Highwoods Sq. is located at 2021 Griffith Rd. and totals 39,700 s/f. The property houses six tenants, including CVS and H.H. Gregg. Meridian Capital Group managing director, Marvin Jeremias, and VP, Scott Jackson, both based in the company's Iselin, NJ office, negotiated this transaction.
"Although our client is very experienced and had significant direct financing relationships, we were able to monitor the appetite in the CMBS market and negotiate a very strong offer for long-term debt with a favorable interest rate," said Mr. Jeremias. "An additional value-add was educating the tenants about the legal side of the loan to ensure a seamless and efficient process for the borrower," he added.
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