WINSTON-SALEM, NC-Meridian Capital Group, LLC, based in Iselin, NJ, negotiated the $7.5-million refinancing of the Highwoods Square shopping center here.
The 10-year CMBS loan features a fixed-rate of 4.11% and was provided by MC-Five Mile Commercial Mortgage Finance, LLC. Meridian Capital did not reveal the identity of the borrower in its press announcement.
Highwoods Square, located at 2021 Griffith Road, totals 39,700 square fee and houses six tenants, including CVS and H.H. Gregg.
Meridian Capital Group Managing Director Marvin Jeremias, and Vice President Scott Jackson, negotiated the transaction.
“Although our client is very experienced and had significant direct financing relationships, we were able to monitor the appetite in the CMBS market and negotiate a very strong offer for long-term debt with a favorable interest rate,” states Jeremias. “An additional value-add was educating the tenants about the legal side of the loan to ensure a seamless and efficient process for the borrower.”
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
