Meridian Capital Group, America’s most active dealmaker, negotiated $7.7 million in acquisition financing for a 42,000 square foot triple net leased school in Brooklyn, NY on behalf of Guardian Realty.
The five-year fixed-rate loan was provided by a regional balance sheet lender and features two years of interest-only payments. This transaction was negotiated by Meridian Vice President, Mark Brachfeld, who is based in the company’s New York City headquarters.
The 42,000 square foot property is located at 2045 Linden Boulevard and is occupied by a school on a triple net lease.
"This was a unique investment opportunity with outstanding in-place cash flow, along with great upside," said Myer Kahan, CFO and head of acquisitions at Guardian Realty.
"While this property is somewhat unique in its tenancy, Meridian was able to identify a lender capable of underwriting the school's lease and achieved strong and accretive debt terms for Guardian Realty," said Mr. Brachfeld.
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