Thursday, May 29, 2014

Meridian Capital Group Arranges $31 Million in Permanent Financing for a Portfolio of Seven Shopping Centers Located in Central Florida

Boca Raton, FL, May 29, 2014– Meridian Capital Group, LLC, a leading national commercial real estate finance and advisory firm, negotiated a $31 million mortgage for the refinancing of the RIS portfolio composed of seven unanchored shopping centers located in Orlando, Tampa, Kissimmee, Sanford and Sarasota, FL.

 The 10-year, non-recourse loan, provided by a CMBS lender, features five years of interest-only payments and a fixed-rate of 4.88%.

Sanford Town Center, Sanford, FL
This transaction was negotiated by Meridian Managing Director, Michael Brown, and Underwriter, Adam LeBlanc, who are both based in the Company’s Boca Raton, FL office. 

 The seven-property portfolio totals 200,000 square feet and includes 80 tenants comprised of a mix of restaurants, bank branches, medical offices, and retail stores.

The portfolio includes West Chase Town Center located in Tampa; The Gateway located in Kissimmee; The Shoppes of East Colonial located in Orlando; Hunters Creek Shoppes located in Orlando; Osceola Gateway Center located in Kissimmee; Sanford Town Center located in Sanford; and Sarasota Palms Plaza located in Sarasota.

 “By leveraging both the sophistication of our client and the strength and creativity of the lender, we were able to negotiate favorable financing that accounts for lease roll and tenant improvements across the portfolio,” said Mr. Brown.

“By staying in constant communication and providing a thoughtful analysis of different scenarios, Meridian was able to manage the terms of the 80 leases included in the portfolio,” added Mr. LeBlanc.

 For a complete copy of the company’s news release, please contact:

Jonathan Stern
Meridian Capital Group, LLC

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