MERIDIAN CAPITAL GROUP ARRANGES $10 MILLION IN FINANCING FOR 2 CALIFORNIA PROPERTIES
Irvine, CA - Meridian Capital Group recently arranged financing in the amount of $7,000,000 for the Irvine Spectrum Auto Care Center, a 41,543 square foot auto care center located at 8767-8797 Irvine Center Drive. Judah Hammer and Michael Kesselman of Meridian’s New York office negotiated to secure a rate
of 6.24% over a ten-year term. Meridian was able to lock the rate as the market was taking a turn during
the recent turmoil. The Irvine Spectrum Auto Center is located within the Irvine Spectrum Mall, which
serves as Orange County’s most premier dining, shopping and entertainment destination.
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Riverbank, CA – Meridian also arranged $3,000,000 in financing
for the Verizon building located at 6436 Oakdale Road. Cliff Gladstone of Meridian’s Florida office negotiated on behalf of borrower Bruce Bossow to secure a rate of 6.75% over a
five-year term with a five-year option. The single tenant had only one year left on the lease, yet Meridian was able to secure the
ten-year deal.
Founded in 1991, Meridian Capital Group LLC is one of the nation’s largest mortgage brokerages serving the multifamily and commercial real estate sectors. The company is based in New York City with additional offices in New Jersey, Pennsylvania, Maryland, Illinois, Florida, California, and Texas. Working with a wide variety of lenders, Meridian finances transactions ranging from $500,000 to more than $500 million for multifamily, co-op, office, retail, hotel, healthcare, self-storage, industrial, and construction properties. Nationally, Meridian reported more than 2,500 transactions in 2006, totaling over $17 billion. |
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