New York, NY Meridian Capital Group has arranged $3.8 million in permanent financing for the refinance of a commercial property located in Manhattan’s Meatpacking District. The five-year loan, provided by a balance sheet lender, features a competitive fixed rate of 3.45% and full-term interest-only payments. This transaction was negotiated by Meridian associate, David Oheb, who is based in the company’s New York City headquarters. The three-story, 5,300 s/f property, is located at 67 Gansevoort St., one of the most recognized streets in New York City’s trendy Meatpacking District. In 2013 Delshah Capital purchased the property at 69 Gansevoort Street, immediately adjacent to 67 Gansevoort St., and is currently renovating it for a new tenant, Madewell. Additionally, the Landmarks Preservation Commission recently approved a development at 46-74 Gansevoort St., located across the street from 67 Gansevoort St., which will ultimately catalyze the increase of property values and market rents for retail spaces on Gansevoort St. “As $100 million in capital is being injected for new developments, Gansevoort Street will transform in the next five years into the new commercial-core of the Meatpacking District,” said Oheb. “Meridian demonstrated the tremendous upside potential when speaking with lenders, and delivered a below-market fixed-rate for five years." Founded in 1991, Meridian Capital Group is America’s most active debt broker and one of the nation’s leading commercial real estate finance advisory firms. In 2015, Meridian closed over 3,900 loans totaling more than $35 billion in transaction volume with 210 unique lenders, equating to $135 million per business day. Since inception, the company has closed more than $240 billion in financing with the full complement of capital providers, encompassing local, regional and national banks, CMBS lenders, agency lenders, mortgage REITs, life insurance companies, credit unions and private equity funds. Meridian arranges financing for many of the world’s leading real estate investors and developers and the company’s expansive platform has specialized practices for a broad array of property types including office, retail, multifamily, hotel, mixed-use, industrial, healthcare, student housing and self-storage properties.Meridian is headquartered in New York City with offices in New Jersey, Maryland, Illinois, Ohio, Florida and California. Tags: