Boca Raton, FL, March 4,
2014, – Meridian Capital Group, LLC, a leading national commercial real estate finance
and advisory firm, negotiated a $43.8 million mortgage for the refinancing of
the Regency Portfolio, which consists of 14 shopping centers located in FL, IN,
MS, GA, AL, KY, VA and WV.
The ten-year, non-recourse loan features a fixed-rate of 5.22% and
was provided by a CMBS lender. This transaction was negotiated by Meridian
Managing Director, Michael Brown, and
Director, Zach Nimhauser, who are based
in the Company’s Boca Raton, FL office.
The 14-property portfolio totals 1,361,421 square feet and
houses 173 tenants including Wal-Mart, Magic Mart, JCPenney, Beall’s Outlet,
Kroger, Piggly Wiggly, Orschein Farm & Home and Big Lots.
“This loan was for a very
sophisticated client, with a great understanding of the nuances of different
types of debt,” said Mr. Brown
“We invested significant time structuring the
specifics of the loan with the lender up front to build in solutions to our
client’s ongoing needs over the 10-year loan term,” he added.
“The portfolio had 173
leases to a variety of tenants with a broad array of renewal dates and
extensions. By working with the lender to plan for different scenarios, we were
able to develop a structure to achieve our client’s business objectives under
favorable terms,” added Mr. Nimhauser.
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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