Shelby of Meridian Capital arranges $36 million financing to recapitalize five contiguous properties in West Village/SoHo

New York, NY Meridian Capital Group, America’s most active debt broker, has arranged $36 million in financing to recapitalize five contiguous mixed-use properties in a prime West Village/SoHo location. The 10-year loan, provided by a balance sheet lender, features a competitive fixed rate of 2.85% and one year of interest-only payments. This transaction was negotiated by Meridian managing director, Carol Shelby, who is based in the company’s New York City headquarters. The five six and seven-story walk-up multifamily buildings, located on Thompson St., total 115 residential units and two retail spaces. Situated in the West Village and SoHo neighborhoods of lower Manhattan, Thompson Street offers some of New York’s City’s most popular restaurants and a variety of high-end shops and is in close proximity to the A, C and E subway lines. “Meridian helped the client manage the defeasance process for their existing CMBS loan, which allowed them to cash out equity and capitalize on the low rate environment with more flexible financing,” said Shelby.