Meridian Capital Group, America’s most active debt broker, arranged $98 million in acquisition financing for the purchase of the Bank of the West Building office property located in San Francisco, CA on behalf of Sidra Montgomery, LLC.
The 10-year loan, provided by JPMorgan Chase & Co., features a competitive fixed rate below 4.00% and full-term interest-only payments. This transaction was negotiated by Meridian Senior Managing Director, Tal Bar-Or, Vice President, Raj Khatiwala, and Associate, Kyle Kite, who are all based in the Company’s New York City headquarters.
The 25-story property, located at 180 Montgomery Street in the heart of San Francisco’s financial district, totals 302,000 square feet, 46% of which is anchored by Bank of the West’s headquarters. The property recently underwent a $9 million renovation and holds LEED Gold Certification. Situated just one block from the Bay Area Rapid Transit (BART) and Light Rail stations at Market Street, commuters have easy access in and out of the financial district. A variety of upscale hotels and restaurants including the Ritz-Carlton, Loews Regency, Boudin Bakery and Kasukabe are also located nearby.
“Meridian is pleased to have helped the sponsor achieve its desired terms and close the loan in a short timeframe,” explained Mr. Bar-Or. “The team at JPMorgan was an excellent partner throughout the process,” he added.
About Meridian Capital Group, LLC
Founded in 1991, Meridian Capital Group, LLC is one of the nation’s largest commercial real estate finance and advisory firms. Meridian is headquartered in New York with offices in New Jersey, Maryland, Illinois, Florida and California. Working with a broad array of capital providers, Meridian arranges financing for transactions ranging from $1 million to more than $500 million for multifamily, co-op, office, retail, hotel, mixed-use, industrial, healthcare, student housing, self-storage and construction properties. www.meridiancapital.com