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| Meadowbrook North Office Park, Hoover, AL |
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| Tal Bar-Or |
New York, NY, Nov. 3, 2015–
Meridian Capital Group, America’s most active debt broker, negotiated $35
million in acquisition financing for the purchase of the Meadowbrook North Office Park located in Hoover, AL on behalf of
The Matrix Group.
The two-year loan,
provided by Rialto Mortgage Finance, LLC, features a LIBOR-based floating-rate,
interest-only payments for the full term and a one-year extension option.
This transaction was
negotiated by Meridian Managing Director, Tal
Bar-Or, Vice President, Judah
Neuman, and Associate, Kyle Kite,
who are all based in the Company’s New York City headquarters.
Meadowbrook North Office
Park, located at 100, 300, 500 and 1200 Corporate Drive on U.S. Highway 280, is
composed of four Class A office buildings totaling 509,000 square feet.
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| Judah E. Neuman |
The property was built by
developer Daniel Corporation and sits within the 175-acre master planned campus
in Birmingham’s most distinguished office setting. Property amenities include a
13-acre lake, lush landscaping, a 1.3-mile walking trail, three daycare
facilities and a U.S. Post Office.
This office submarket
contains Birmingham’s highest concentration of Class A office stock, with 4.7
million square feet of space. In addition to being well-located, the business
park is in the strong demographic region of Shelby County, one of the state’s
wealthiest and fastest-growing counties.
“This was an exciting
transaction from the outset; from being live on the phone during the purchase
auction to ultimately seeing the deal through to closing, Meridian worked
hand-in-hand with Matrix the whole way,” said Mr. Bar-Or.
“This is yet another example of The Matrix
Group’s ability to identify opportunities with deep relative value, strong
insulation from downside and tremendous opportunity to add value. With Matrix’s
capability of turning around underperforming assets, this deal is characterized
by little risk of loss and a skewed opportunity to achieve a significant equity
multiple,” he added.
For a complete copy of the company’s news release,
please contact:
Jonathan Stern
Meridian Capital Group
212/972-3600
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