Meridian Capital Arranges $25M Refinancing of Retail Facility in Brooklyn
NEW YORK CITY — Meridian Capital Group has arranged the $25 million refinancing of a retail and parking facility in Brooklyn. The 10-year CMBS loan features a rate of 4.86 percent and full-term, interest-only payments. Steven Ribiat, Morris Diamant and Tzvi Krieger of Meridian’s New York office arranged the financing for the transaction with the undisclosed borrower. Located at 236 Atlantic Ave., the 69,000-square-foot property was constructed less than 10 years ago and features 24,000 square feet of ground-floor retail space as well as a parking garage. Current tenants include PetSmart and PM Pediatrics. The building also includes 42 residential condominiums on the upper floors that were not part of the collateral.