Meridian arranges $8m for Alhambra Ballroom.

Meridian Capital Group recently arranged $8 million in financing for a property at 2110-2118 Adam Clayton Powell Boulevard, housing the Alhambra Ballroom, a restaurant and an entertainment center.

The property is located around the corner from the famed Apollo Theater, in the heart of Harlem's dynamic commercial core.

Samuel M. Spinner and Moshe Majeski of Meridian's New York office negotiated the five-year loan for the 6-story, 72,000 s/f property.

Originally built as the Alhambra Theater in 1905, it began as a vaudeville venue, eventually showing movies and opening an upstairs ballroom hosting legendary performers such as Bessie Smith and Billie Holiday.

Reopened in 2003, the Alhambra Ballroom now hosts weddings and events, and shares space with Pier 2110 seafood restaurant and the Harlem Bowling and Entertainment center--which is partially owned by former president Bill Clinton.

Nicole Meyer and Kelly Mekles of Newmark were instrumental in negotiating the tenancy.

Meridian also recently arranged $3,100,000 in financing for a retail/office property housing Staples and a Social Security Administration office at 2211 South 8th Street in Los Angelese.

Shana Klisanin and Brad Kraus of Meridian's Los Angeles office negotiated on behalf of borrower Norm Berris for the 31,015 square foot building. Purchased on a 1031 exchange, Berris was seeking the best possible terms and maximum leverage, both of which were satisfied.