Meridian Capital Group, America’s most active deal maker, arranged $13.1 million in financing for the refinance of the Shoppes at New Tampa shopping center in Wesley Chapel, FL, on behalf of a New York-based client.
The 10-year, non-recourse loan, features a competitive fixed rate and three years of interest-only payments, and was negotiated by Vice Presidents, Eric Trombly and Peter Martz, who are both based in the company’s Boca Raton, FL office.
The Shoppes at New Tampa, located at the intersection of Bruce B. Downs Boulevard and Florida State Road 56 in Pasco County, is a 68,000 square foot retail shopping center. Notable tenants include Bonefish Grill, Office Depot, Jersey Mike’s Subs, First Watch and LabCorp. The property is situated directly off of the Bruce B. Downs Boulevard and Florida State Road 56, offering strong visibility on one of Tampa’s busiest intersections.
“The shopping center is situated on one of Tampa’s most trafficked thoroughfares and is at the forefront of the area’s steady growth over the past decade,” said Mr. Martz. “We were able to capitalize on Meridian’s significant transaction volume in the Florida market to arrange a very competitive loan in a volatile interest rate market,” added Mr. Trombly.
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