Majeski and Farkovits of Meridian arrange $6.5 million loan

Meridian Capital Group, LLC has negotiated $6.5 million in acquisition financing for a mixed-use retail and office property on behalf of Isaac Shalom and Madison Realty Management Corp. The 10-year CMBS loan features a fixed rate of 4.1% and two years of interest-only payments. This transaction was originated by Meridian managing director, Moshe Majeski and negotiated by associate, Michael Farkovits. The five-story, 28,700 s/f property is located at 885 Flatbush Ave. and notable tenants include Citibank, who has been at the location since 1937, and CAMBA, a large non-profit that occupies two-thirds of the space. Isaac Shalom and the Shalom family are active real estate owners and investors with a 30 year track record. They currently own and operate properties totaling over three million s/f nationally with a focus on retail assets. "This transaction is a prime example of how Meridian has been able to capitalize on strong CMBS loan demand in order to obtain long-term financing with a highly favorable mix of proceeds and structure," said Farkowitz.