DANBURY, CT-Matrix Realty Group has secured an$85-million mortgage to refinance its Matrix Corporate Center here.Meridian Capital Group negotiated the five-yearCMBS loan at a fixed rate of 4.61%; the lender was notidentified.

“Numerous lenders had reviewed this financing request over thepast few years,” says Tal Bar-Or, New YorkCity-based managing director at Meridian, who negotiated the dealwith VP Michael Ottomanelli. “Aftercomprehensively evaluating the sponsor's business plan, Meridianidentified the optimal lending partner and structured a loan thatallows the client the flexibility to execute their value-addbusiness plan while providing the certainty of a fixed-rateloan.”

At just over one million square feet, Matrix Corporate Center isthe largest office property in Danbury, accounting for 30% byitself of the total of class A office space in that market. Theproperty at 39 Old Ridgebury Rd. was built in 1981, serving asUnion Carbide's corporate headquarters at one time, and underwentmore than $10 million in renovations last year.

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.