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| Shoppes at Blue Lake shopping center, Boca Raton, FL |
Boca Raton, FL – Meridian
Capital Group, LLC, a leading national commercial real estate finance and
advisory firm, negotiated a $15.5 million mortgage for the refinancing of the Shoppes
at Blue Lake shopping center located in Boca
Raton, FL.
The seven-year,
non-recourse mortgage features a 75% loan-to-value ratio and a competitive
fixed-rate of 4.13%.
This financing was
rate-locked at application and was provided by a local savings bank. Meridian
Managing Director, Michael Brown, and
Directors, Noam Kaminetzky and Daniel
Bockstoce, of the Company’s Boca Raton, FL
negotiated this transaction.
The 50,000 square foot
shopping center consists of four multi-tenanted buildings and notable tenants
include Wells Fargo, PNC Bank, and Miller’s Ale House.
“Meridian leveraged our
outstanding lender relationships to negotiate highly accretive financing that
will save our client more than $1 million over the new loan term,” said Mr.
Brown.
Founded in 1991, Meridian
Capital Group, LLC is one of the nation’s largest commercial real estate
finance and advisory firms.
Meridian is headquartered
in New York with offices in New Jersey, Maryland, Illinois, Florida, Arizona
and California.
Working with a broad array
of capital providers, Meridian arranges financing for transactions ranging from
$1 million to more than $500 million for multifamily, co-op, office, retail,
hotel, mixed-use, industrial, healthcare, student housing, self-storage and
construction properties.
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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