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| Holcomb Woods Business Park, Roswell, GA |
Boca Raton, FL – Meridian Capital Group, America’s most
active debt broker, negotiated a $13.7 million loan for the purchase of Holcomb
Woods Business Park, an office property located in Roswell, GA on behalf of
RexHall Realty and Rugby Realty.
The three-year, non-recourse loan, provided by a bridge
lender, features a floating-rate of 475 basis points over 30-day LIBOR, two
one-year extension options and begins to amortize only upon the completion of
renovations of the property.
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| Michael Brown |
This transaction was negotiated by Meridian Capital Group
Managing Director, Michael Brown,
who is based in the Company’s Boca Raton, FL office.
Holcomb Woods Business Park, located at 1000 Holcomb Woods
Parkway, is an office property in Roswell, GA composed of four buildings
totaling 244,700 square feet which house numerous tenants including Lennar of
Georgia, Docufree, Arclin, Enveniam, Inc., and Farmers Insurance.
The property was 75% occupied at the time of financing and
proceeds will be used for property improvements and leasing commissions for new
and current tenants in order to increase occupancy at the property.
“Meridian has closed financing on more than 1 million square
feet of office properties in the Atlanta area within the past year,” said Mr.
Brown. “This is a terrific asset with leasing upside and sits in a prime
location with strong local growth dynamics,” he added.
Founded in 1991, Meridian Capital Group 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 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 Stern
Meridian Capital Group
212/972-3600
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