Press Releases

Meridian Capital Group Arranges $19.2 Million in Financing for an Industrial, Mixed-Use, and Retail Portfolio in Long Island

Meridian Capital Group, America’s most active dealmaker, arranged $19.2 million in financing to refinance a portfolio containing industrial, mixed-use, and retail properties in Long Island, NY, on behalf of Sanders Equities.

The seven-year loan, provided by a balance sheet lender, features a low 4% rate and a 30-year amortization schedule. Meridian Vice President and Long Island Specialist, Bryan Kallenberg, negotiated the financing for this transaction.

Centrally located in Nassau County, the portfolio consists of six industrial, one mixed-use, and one retail property, with notable tenants including, Sprint, Cintas, and Nassau Candy.

“The sponsor’s portfolio has very low leverage,” said Mr. Kallenberg. “The Sanders team decided to refinance these properties in order to capture an unusually low rate in today’s rising interest rate environment, adding to their cash reserves and supporting their acquisition strategies while maintaining exceptionally low debt to equity.”

“We are actively investing in our existing portfolio in addition to new developments and acquisitions throughout Long Island and other markets,” said Jordan Sanders, Executive Vice President of Sanders Equities. “Our buy-and-hold strategy, coupled with our low leverage and cash reserves, allows us to be nimble and efficient in our investment approach.”

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.