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| Jacob Schmuckler |
New York, NY, May 24, 2017
– Meridian Capital Group, America’s most active dealmaker, arranged $6.5
million in CMBS financing to refinance the oceanfront Lexington Hotel in Miami Beach, FL.
The 10-year interest-only
loan, provided by a CMBS lender, features a fixed rate of 4.66% and full-term
interest-only payments. This transactions was negotiated by Meridian Senior
Vice President, Jacob Schmuckler,
who is based in the company’s New York City headquarters.
The Lexington Hotel,
located at 4299 Collins Avenue, is a 143-room oceanfront hotel in the heart of
Miami Beach. Guests enjoy direct access to Miami’s white sand beaches and the
boardwalk.
Amenities include an
outdoor pool and a poolside cafe, a guest laundry facility, a spacious meeting
facility and secure off-site parking.
The Lexington Hotel offers on-site dining
at the Florida Grill Steakhouse and the outdoor Beaches Bar and Grill. Guests
are in walking distance from four-star dining options at Blade, Scarpetta, and
the Forge Restaurants. Nearby attractions include Jungle Island, Miami
Children’s Museum, Bass Museum of Art and the Miami Seaquarium.
“The loan was maturing
with the existing lender,” explained Mr. Schmuckler. “Thanks to Meridian’s
excellent CMBS lender relationships, we were able to close the loan in 45 days
on favorable terms,” 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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