Meridian Capital Group Arranges $7.75 Million in Acquisition Financing for a Retail Property in Beverly Hills, CA

May 10, 2018

Meridian Capital Group, America’s most active dealmaker, arranged $7.75 million in acquisition financing for a retail property in Beverly Hills, CA.

The bridge loan, provided by a balance sheet lender, features interest-only payments and was negotiated by Meridian Vice President, David Oheb, who is based in the company’s New York City headquarters.

The two-story, 7,200 square foot trophy property is located at 362 North Camden Drive in the coveted Platinum Triangle area of Beverly Hills, known for its world-class dining and shopping. One block west of famed Rodeo Drive, the property is adjacent to leading restaurants, hotels, and luxury retailers including Prada, Gucci, Cartier, and Chanel. The property is slated to temporarily house Madeo, a decades-old Los Angeles hotspot frequented by A-list celebrities, as the restaurant’s current home at 8899 Beverly Boulevard is redeveloped by Townscape Partners and Angelo, Gordon & Co. into a luxury condominium building.

“Given Meridian’s strong relationship with the lender and the sponsor’s track record, we were able to negotiate highly favorable terms at 85% loan-to-cost for the acquisition of the property,” said Mr. Oheb.

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