U.S. Steel Tower

Pittsburgh, PA

2,300,000 Sq. Ft. Office Building
Financing Amount: $220,000,000

Challenge

Obtain within a time-of-the-essence closing period a large financing for a significant office property in a “secondary” market.

Solution

Meridian negotiated $220,000,000 in CMBS financing within a 45-day time frame by articulating the merits of the sponsor’s business plan, including its significant equity contribution at acquisition, its lease-up strategy, and the value-add potential of this trophy property.