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| Noam Kaminetzky |
New York, NY, Aug. 10,
2016, – Meridian Capital Group,
America’s most active debt broker, arranged $13.2 million in permanent
financing for Arkadia Property Group to purchase an office property located in
Miami, FL.
The ten-year loan,
provided by a local lender, features an initial fixed rate of 4.25%. This
transaction was negotiated by Meridian Managing Director, Noam Kaminetzky, who is based in the Company’s Boca Raton, FL
office.
The property, Courthouse
East, is located at 22 NW 1st Street in Miami, FL. The four-story, 56,025
square foot building is occupied by a single tenant who has a lease expiring in
less than five years.
Courthouse East is occupied by notable tenant, Miami-Dade
County, who has some very challenging clauses in the lease, which are standard
amongst government tenants.
“Because this lease is
expiring in less than five years and had a number of unique and complex
elements that were challenging, yet typical of government leases, some of the
lenders we were approached shied away from the deal,” explained Mr. Kaminetzky.
“However, Meridian was
able to demonstrate the strength of the deal and leverage its relationship with
a local lender to obtain the financing,” he added. “We believe that this is the
beginning of a strong relationship between Meridian and Arkadia Property Group,
an innovative investment and development organization. We look forward to
working on many more deals together in the near future.”
For a complete copy of the company’s news release,
please contact:
Jonathan Stern
Meridian Capital Group
212/972-3600
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