Meridian Capital Group, America’s most active dealmaker, arranged $40 million in acquisition financing and a $5 million earn-out facility for a mixed-use property in New York, NY on behalf of Churchill Real Estate Holdings. The five-year loan, provided by a balance sheet lender, features a fixed-rate and full-term interest-only payments. This transaction was negotiated by Meridian Senior Managing Director, Ronnie Levine, and Vice President, Thomas Wayda, who are both based in the company’s New York City headquarters.
Located at 809-811 Madison Avenue between East 67th Street and East 68th Street in New York’s Upper East Side neighborhood, the mixed-use property features 32 apartments and 2,700 square feet of premier retail space with frontage along Madison Avenue. 809-811 Madison Avenue is advantageously located within walking distance to some of New York’s most prominent cultural attractions, including The Metropolitan Museum of Art, the Guggenheim Museum, Central Park, and the Park Avenue Armory. The property also benefits from proximity to several top-tier hospitals, schools, and universities in addition to luxury shopping and gourmet dining along Madison Avenue. Multiple transportation options are also located nearby, including the 6 train at the 68th Street station, the Q train at the 72nd Street station as well as numerous bus routes.
“It was a pleasure working with the Churchill team on this financing,” said Mr. Levine. “We were able to secure a fixed-rate balance sheet loan that enables them to execute their business plan and maximize the value of the asset.”
Founded in 1991, Meridian Capital Group is America’s most active dealmaker and one of the nation’s leading commercial real estate finance, investment sales and retail leasing advisors. In 2018, Meridian closed over $37 billion in financing through more than 3,500 transactions across more than 250 unique lenders and sold nearly $1 billion in commercial property. Meridian represents many of the world’s leading real estate investors and developers and the company’s expansive platform has specialized practices for a broad array of property types including office, retail, multifamily, hotel, mixed-use, industrial, and healthcare and senior housing properties. Meridian is headquartered in New York City with offices in New Jersey, Maryland, Illinois, Ohio, Florida, and California. www.meridiancapital.com