Press Releases

Meridian Capital Group Arranges $18 Million in Acquisition Financing for the Dillsburg Shopping Center in Dillsburg, PA

Meridian Capital Group, America’s most active dealmaker, arranged $18 million in acquisition financing for the Dillsburg Shopping Center located in Dillsburg, PA. The shopping center and adjacent land parcel were purchased by an affiliate of RW Partners, Inc. of Plymouth Meeting, PA and Vastgood Properties of Port Washington, NY. The total purchase price including the land was $24.4 million.

The $18 million CMBS loan features five years of interest-only payments followed by a 30-year amortization schedule and was negotiated by Meridian Vice President, Bryan Kallenberg, who is based in the company’s New York City headquarters.

Located on US-15 in Dillsburg, PA, the Dillsburg Shopping Center spans 153,000 square feet and is anchored by Giant Stores supermarket. Giant, which is headquartered in nearby Carlisle, PA, is a subsidiary of Ahold Delhaize, one of the world’s largest owners of food stores, which has guaranteed the Giant lease. Other notable tenants include Tractor Supply, Dollar Tree, Little Caesars, Subway, H&R Block, Rite Aid, Advance Auto Parts, McDonalds, Fulton Bank, AT&T, and Verizon. All tenants at the property reported sales well above the national average.

“Our client asked us to identify a lender who was both familiar and comfortable with the asset type and could provide the most interest-only possible,” said Mr. Kallenberg. “After first speaking with many regional lenders, Meridian was able to secure a national CMBS lender that could maximize proceeds and interest-only in line with the sponsor’s requirements.”

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.