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| Brookside Concourse, 3655 Brookside Parkway, Alpharetta, GA |
Boca Raton, FL, Oct. 21, 2013, – Meridian Capital Group,
LLC, a leading national commercial real estate finance and advisory firm,
negotiated $19 million in acquisition financing for the purchase of Brookside
Concourse in Alpharetta, GA and Chattahoochee Corners located in
Duluth, GA.
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| Chatahoochee Corners, 3450 Corporate Way, Duluth, GA |
The three-year,
non-recourse loan features a floating-rate of 4.68% initially and was provided
by a balance sheet lender. This transaction was negotiated by Meridian Capital
Group Managing Director, Michael Brown and Director, Noam Kaminetzky
who are located in the Company’s Boca Raton, FL office.
The 70% occupied
Brookside Concourse consists of four buildings, totaling 153,500 square feet
and is located at 3655 Brookside Parkway in Alpharetta, GA. The 60%
occupied Chattahoochee Corners consists of five buildings totaling 250,000
square feet and is located at 3450 Corporate Way in Duluth, GA.
“Based on an
in-depth analysis of the borrower’s business plan, Meridian was able to
structure a non-recourse acquisition bridge loan based on a relatively high
loan-to-cost with full funding of capital expenditures, leasing commissions and
tenant improvements,” said Mr. Brown.
“This client has a proven model and Meridian successfully
negotiated accretive financing with a low interest rate and a flexible
structure to help them accomplish their business plan,” he added.
For a complete copy of the company’s news release, please contact:
Jonathan M. Stern
Managing Director
Meridian Capital Group, LLC
1 Battery Park Plaza, 26th Floor
New York, NY 10004
Direct: 212.612.0181
Fax: 212.201.5181
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