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| Noam Kaminetzky |
New York, NY – Meridian
Capital Group, America’s most active debt broker, arranged $12 million in
permanent financing for the Lincoln Park office property located in Orlando,
FL.
The 10-year loan, provided
by a local lender, features a fixed rate of 4.50%. This transaction was
negotiated by Meridian Managing Director, Noam
Kaminetzky and Vice President, Eric
Trombly, who are both based in the company’s Boca Raton, FL office.
Lincoln Park, located at
8511 and 8523 Commodity Circle, are two-story office buildings totaling 132,193
square feet that are situated on 12.7 acres with notable tenant Universal
Studios.
Lincoln Park is traditionally known for its
technology company offices and is a desirable space due its close proximity to
the Orlando International Airport and major highways, including the Ronald
Reagan Turnpike, Highway Interstate 4, Florida State Road 528 and the recently
expanded U.S. Route 441.
“The borrower has owned
the property for many years and this deal presented a major challenge because
the property is occupied by only two tenants, one of which was vacating within
the first year of the loan,” explained Mr. Trombly.
“Although several lenders
could not overcome this obstacle, Meridian was able to demonstrate the strength
of the deal to obtain favorable terms from a local lender where Meridian enjoys
a strong relationship,” added Mr. Kaminetzky. “We were able to create a
structure that the lender was comfortable with and still achieved the desired
results for the borrower
For a complete copy of the company’s news release,
please contact:
Jonathan Stern
Meridian Capital Group
212/972-3600
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