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| Noam Kaminetzky |
The seven-year balance
sheet loan, provided by the U.S. arm of an international bank, features a fixed
rate of 3.90%. This transaction was negotiated by Meridian Managing Director, Noam Kaminetzky and Vice President, Joseph Landsberg, who are both based in
the company’s Boca Raton, FL office.
The Hampton Inn by Hilton,
located at 2800 South West 28th Terrace in Coconut Grove, is a six-story,
135-key hotel. The property is situated directly across the street from the
Metrorail at Coconut Grove and is a 10-minute drive from Miami International
Airport and the Port of Miami.
The hotel is also in close
proximity to Coral Gables, Key Biscayne, Brickell and Downtown Miami, where
guests enjoy a variety of dining, shopping and entertainment, including the
American Airlines Arena, Bayside Marketplace, Perez Art Museum and Adrienne
Arsht Center for Performing Arts.
In addition, The Hampton Inn by Hilton’s
central location offers direct access to shopping centers and malls, including
Cocowalk, Shops at Sunset Place, Village at Merrick Park, Dolphin Outlet Mall,
Dadeland Mall and Miami International Mall.
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| Joseph Landsberg |
“There were concerns about the rising interest rate environment and Meridian negotiated a loan that allowed for a six-month rate lock,” he added. “Ultimately, the borrower was able to close the loan 55 basis points below prevailing market rates as result of this arrangement.”
“The borrower had a
long-standing relationship with an existing advisory firm,” said Mr. Landsberg.
“Meridian leveraged its strong relationships and experience to obtain a better
loan structure, tailored to meet the unique requirements of this asset,” he added.
For a complete copy of the company's news release, please contact:
Jonathan Stern
Meridian Capital Group
212/972-3600
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