Meridian Capital Group

Meridian Capital Group Arranges $7.5 Million in Acquisition Financing for an Office Building in Houston, TX

May 24, 2018

May 24, 2018

Meridian Capital Group, America’s most active dealmaker, arranged $7.5 million in acquisition financing for an office building in Houston, TX on behalf of Windmill Investments.

The 10-year loan features a floating rate and 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 5800 North Course acquisition provides robust cash flow and potential future capital appreciation, which is especially important as we are nine years into the current market cycle,” said a representative from Windmill Investments. “We were happy working with Meridian to successfully close this transaction.”

5800 North Course Drive spans 75,000 square feet with 2,500 square feet of food service space in addition to nearly 600 parking spaces on more than 10 acres. The office building has been fully occupied by Alltran, a leader in financial services with six offices nationwide, since it was constructed in 2001.

The property is located within Houston’s Westchase District, which has emerged as a leading office address for the city’s major employers, with companies like Phillips 66, Cisco, Chevron, and National Oilwell Velcro all based in the area. More than a half-million people live within five miles of the Westchase District, and as a whole, the city of Houston is the most populous in the state of Texas with more than two million residents.

About Windmill Investments

Windmill Investments is a private real estate investment company specializing in value-add, undervalued and under-performing assets with strong growth potential. In the past 30 years, Windmill’s team has completed nearly $500 million in transactions, including multifamily, single-family, office, and mixed-use projects.

About Meridian Capital Group

Founded in 1991, Meridian Capital Group is America’s most active deal maker and one of the nation’s leading commercial real estate finance and investment sales firms. In 2017, Meridian closed over 3,000 debt transactions across more than 200 unique lenders and sold nearly $1 billion in commercial property. Since inception, the company has closed more than $300 billion in financing with the full complement of capital providers, encompassing local, regional and national banks, CMBS lenders, agency lenders, mortgage REITs, life insurance companies, credit unions and private equity funds. 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, healthcare, student housing and self-storage properties. Meridian is headquartered in New York City with offices in New Jersey, Maryland, Illinois, Ohio, Florida and California. www.meridiancapital.com

Featuring:
Shaya Ackerman
Senior Managing Director
Origination
(212)612-0170
[email protected]
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