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Beach club deal honors quote.


Meridian Meridian (mərĭd`ēən), city (1990 pop. 41,036), seat of Lauderdale co., E Miss., near the Ala. line; settled 1831, inc. 1860.  Capital recently arranged $16,000,000 in financing for the Biscayne Beach Club at 10560 SW 156th Place, Miami Florida.

Seth Grossman of Meridian's Florida office negotiated a rate of 5.875% over a seven-year term with an interest-only portion.

Grossman and Independence Community Bank were able to work together to honor As a verb, to accept a bill of exchange, or to pay a note, check, or accepted bill, at maturity. To pay or to accept and pay, or, where a credit so engages, to purchase or discount a draft complying with the terms of the draft.  a quoted rate of 5.875% although the loan closed when treasuries were above 5%. This was a portfolio loan with no reserves and no rate lock fees.

Meridian also recently arranged $5,950,000 for the refinancing Refinancing

An extension and/or increase in amount of existing debt.
 of a 66,000 s/f movie theater in the Shops at Old Mill, Oregon. Ben Kofron and Seth K. Grossman negotiated on behalf of William Smith William Smith may refer to: People
  • William Smith (c. 1872–1941), Master of the SS Sauternes, English merchant seaman killed in World War II
  • William Smyth (1460–1514), English Bishop of Lincoln
  • William Smith (actor) (born 1934)
 Properties to secure a rate of 6.192% over a ten-year term.

The property derives 82% of its income from Regal Theaters. Based on the theater's success, 6 additional screens were added last year to bring the total to 16 screens.
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Article Details
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Title Annotation:FINANCE; Biscayne Beach Club
Publication:Real Estate Weekly
Article Type:Brief article
Geographic Code:1USA
Date:Jul 12, 2006
Words:159
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