Meridian Capital Group, America’s most active dealmaker, negotiated $21 million in financing for the acquisition of an industrial portfolio, located in Texas, Illinois, South Carolina, and Ohio, on behalf of a foreign sponsor.
The 10-year loan features a fixed rate of 4.41% and 18 months of interest-only payments. This transaction 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 portfolio totals approximately 500,000 square feet and features multiple single-tenant industrial properties, which are all operating under triple-net leases. The properties are located in Texas, Illinois, South Carolina and Ohio.
“We are pleased to arrange financing that was highly accretive to our client’s long-term goals for the portfolio,” said Mr. Ackerman. “The industrial portfolio brought a number of unique challenges during the transaction, but our team was able to successfully navigate those issues and structure favorable financing solution in a short timeframe,” he added.
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