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| The Fountains at Piedmont Center, Atlanta, GA |
New York, NY – Meridian
Capital Group, America’s most active debt broker, arranged $66.8 million of
financing for the acquisition of a portfolio of four class-A office buildings
known as the Fountains at Piedmont Center and located in Atlanta, GA, on behalf
of The Ardent Companies.
The balance sheet
financing, provided by ACORE Capital, features a competitive LIBOR-based
interest rate with extension options.
This transaction was negotiated by
Meridian Senior Vice President, Tal
Savariego, and Vice President, Dani
Sabesan who are both based in the company’s New York City headquarters.
Ideally located in the
heart of Buckhead, one of the top-performing office markets in the Southeast,
The Fountains at Piedmont Center is a four-building 550,000 square-foot office
complex that recently underwent a $30 million capital improvement program and
features large courtyards and open spaces conveying a campus-like feel within a
class-A office complex.
“The Ardent Companies has
a strong track record of executing on value-add opportunities and is acquiring
the complex at an attractive basis for long-term upside potential,” explained
Mr. Savariego. “Meridian arranged for competitive balance sheet financing that
provides long-term flexibility for prepayment and extension of the loan, as
well as a good news facility for future funding as the investment strategy is
executed,” 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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