Meridian Capital Group

Meridian Capital Group Arranges $11 Million in Permanent Financing for a Retail Property Located in Miami, FL

May 04, 2016

May 4, 2016

Meridian Capital Group, America’s most active debt broker, arranged $11 million in permanent financing for the refinance of a multi-tenant retail property located in Miami, FL.

The seven-year non-recourse loan, provided by a regional balance sheet lender, features a fixed-rate and flexible prepayment terms. This transaction was negotiated by Meridian Vice President, Eric Trombly, who is located in the Company’s Boca Raton, FL office.

Village Portico is located at 201-299 S.W. Eighth Street in Miami’s upscale Brickell neighborhood just one block west of Brickell City Centre. The property, anchored by CVS, McDonald’s and Subway, contains 28,700 square feet of space and is zoned with an additional 600,000 square feet of air rights.

“Because the property is zoned with air rights, Meridian leveraged its strong relationship with the lender to negotiate a non-recourse loan with a favorable prepayment penalty that provides substantial flexibility,” said 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

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