Hollywood, CA - Meridian Capital Group has arranged $10,000,000 for the refinancing of the Taft Building, a 12-story, 105,000 square foot office building located on the famed intersection of “Hollywood & Vine” Streets in the heart of the Hollywood, CA.

Allan Lieberman of Meridian’s New York office negotiated on behalf of the borrower, 1680 Vine Investment Company, LLC, to secure a 6% interest rate. This competitive rate was locked at application with the commercial lending division of a national savings bank. With a term of 10 years, the first two years of the loan will consist of interest-only payments.

The landmark building was designed in the Renaissance Revival Style. It was also one of Hollywood’s first high-rise buildings when it was constructed in 1924. It once housed the Academy of Motion Picture Art and Sciences. It is now comprised of more than 130 office tenants and 2 ground floor retail spaces.

Capital improvements include the restoration of the exterior façade and the recapturing of the main lobby entrance. New projects alongside the property include the development of the 305 room W Hotel tower with adjoining condominiums and rental apartments. The southeast corner of the property will also include 375 luxury apartments, restaurants and retail shops.

Founded in 1991, Meridian Capital Group LLC is one of the nation’s largest mortgage brokerages serving the multifamily and commercial real estate sectors. The company is based in New York City with additional offices in New Jersey, Pennsylvania, Maryland, Illinois, Florida, California, and Texas. Working with a wide variety of lenders, Meridian finances transactions ranging from $500,000 to more than $500 million for multifamily, co-op, office, retail, hotel, healthcare, self-storage, industrial, and construction properties. Nationally, Meridian reported more than 2,350 transactions in 2007, totaling over $16.5 billion.