Meridian Capital Group, America’s most active dealmaker, arranged $13 million in financing for the refinance of a mixed-use property located in the Bayside neighborhood of Queens, NY.
The seven-year loan, provided by a local balance sheet lender, was negotiated by Meridian Associate, David Oheb, who is based in the company’s New York City headquarters.
The property, located at 6154-6156 Springfield Boulevard, is a two-story, 20,250 square foot mixed-use building on a prime corner of a heavily trafficked retail corridor in the Bayside neighborhood of Queens. Notable tenants include Dunkin Donuts, Ivy League Early Learning Academy, HeartShare Human Services of New York, and the Bi Won Korean Barbeque restaurant. The property is situated near the intersection of Interstates 495 and 295 and is a short distance from the Grand Central Parkway and the Cross Island Parkway.
“Meridian arranged the first mortgage to replace a CMBS loan that was originated in 2007,” said Mr. Oheb. “Thanks to the property's strong sponsorship, location, and quality tenancy, we were able to negotiate favorable terms with a competitive balance sheet lender and the borrowers were very happy with the execution,” he added.
Founded in 1991, Meridian Capital Group, LLC is one of the nation's largest commercial real estate finance and advisory firms. Meridian is headquartered in New York with offices in New Jersey, Maryland, Illinois, Florida and California. Working with a broad array of capital providers, Meridian arranges financing for transactions ranging from $1 million to more than $500 million for multifamily, co-op, office, retail, hotel, mixed-use, industrial, healthcare, student housing, self-storage and construction properties. www.meridiancapital.com