Meridian Capital Group.Meridian Capital Group announced the following transactions: * $4,000,000 in financing for a 40,000 s/f property housing a TSI TSI Total Solar Irradiance (sum solar light in energy per unit of time) TSI Trading Standards Institute (UK) TSI Transportation Safety Institute (US DOT) Sports Club, Tanning Garden and Schopter Restaurant at 300 West Service Road, Staten Island, NY. Rael Gervis and Steve Geller of Meridian's New York office negotiated to secure a rate of 6.25% over a ten-year term. All of the tenants have been in the space since the early 1990's. * $11,285,000 in financing for a four-story, 101,000 s/f office/industrial property located at 23-27 Robert Pitt Drive, Monsey, NY. Rael Gervis and David Rosenberg of Meridian's New York office negotiated to secure a rate of 5.56% over a ten-year term. The transaction included a mezz piece of $700,000 and Meridian was able to carve out to make or get by cutting, or as if by cutting; to cut out. - Shak. See also: Carve of the collateral a piece of land that the borrower could now use to build a new property. * $4,400,000 in financing for The Corrigan Building, a ten-story, 91,950 square foot office building located at 1826-1828 Walnut Street, Kansas City, MO. Allan Lieberman and Rael Gervis of Meridian's New York office negotiated on behalf of Marson & Associates LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control to secure an aggressively priced LIBOR-based rate with a structured cap limit over a three year, interest-only term. The New York-based lender imposed a nominal TI/LC reserve for short-term tenants. Colliers International manages the building and tenants include the Board of Election Commissioners of Kansas City, MO and RSI (Repetitive Strain Injury) Ailments of the hands, neck, back and eyes due to computer use. The remedy for RSI is frequent breaks which should include stretching or yoga postures. Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. and Discovery Services. The property is historic, having been built in 1920 in Kansas City's Crossroads Arts District The Crossroads Arts District is an historic neighborhood near downtown Kansas City, Missouri, USA, centered at approximately 19th Street and Baltimore Avenue, between Downtown's Central Business District and Crown Center. . * $3,300,000 in financing for the Ramada ra·ma·da n. Southwestern U.S. 1. a. An open or semienclosed shelter roofed with brush or branches, designed especially to provide shade. b. An open porch or breezeway. 2. Inn located at 65 Tonnele Avenue, Jersey City, NJ. The five-story hotel contains 102 rooms and 80,000 square feet. Jay Bidnick and Elliot Treitel of Meridian's New Jersey office, negotiated on behalf of borrower Miles Berger to secure a rate of 6.5% over a ten-year term. * $19,000,000 in financing for Horizons North, a gated multifamily complex at 665-675 NE Ives Dairy Road, North Miami Beach North Miami Beach, residential and resort city (1990 pop. 35,359), Dade co., SE Fla., on the Atlantic coast; inc. 1931. It is a major office and retail area. , FL. Allan Lieberman of Meridian's New York office and Michael Brown of the Florida office negotiated on behalf of Fifteen Florida Multifamily, LLC to secure a step-up structure commencing at 6.10% over a ten-year term with five years interest-only. The client was able to rate-lock the structured term immediately upon application and the mortgage provision contains no ongoing reserve requirements. |
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