Meridian Capital Group, America’s most active dealmaker, arranged $7.5 million in acquisition financing for an office building in Houston, TX on behalf of Windmill Investments.
The 10-year loan features a floating rate and was negotiated by Meridian Managing Director, Shaya Ackerman, and Senior Vice President, Shaya Sonnenschein, who are both based in the company’s New York City headquarters.
“The 5800 North Course acquisition provides robust cash flow and potential future capital appreciation, which is especially important as we are nine years into the current market cycle,” said a representative from Windmill Investments. “We were happy working with Meridian to successfully close this transaction.”
5800 North Course Drive spans 75,000 square feet with 2,500 square feet of food service space in addition to nearly 600 parking spaces on more than 10 acres. The office building has been fully occupied by Alltran, a leader in financial services with six offices nationwide, since it was constructed in 2001.
The property is located within Houston’s Westchase District, which has emerged as a leading office address for the city’s major employers, with companies like Phillips 66, Cisco, Chevron, and National Oilwell Velcro all based in the area. More than a half-million people live within five miles of the Westchase District, and as a whole, the city of Houston is the most populous in the state of Texas with more than two million residents.
About Windmill Investments
Windmill Investments is a private real estate investment company specializing in value-add, undervalued and under-performing assets with strong growth potential. In the past 30 years, Windmill’s team has completed nearly $500 million in transactions, including multifamily, single-family, office, and mixed-use projects.
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