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Meridian Capital Group Arranges $30.2M Bridge Refi Cash-Out Loan For Simi Valley Retail Property

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FINANCED
$30,200,000

California

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Retail602 SF
Financed 08/11/2022
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Property Image
FINANCED

Meridian Capital Group Arranges $30.2M Bridge Refi Cash-Out Loan For Simi Valley Retail Property

1555 Simi Town Center Way, Simi Valley, California 93065, United States

See Similar Deals
Retail602 SF
Financed 08/11/2022
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Summary

CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$50,166
Total Square Footage:602 SF
Transaction Type:Loan

The property involved in this closed transaction is located at 1555 Simi Town Center Way in Simi Valley Town Center, California. It is a retail asset with a total square footage of 602,000. The transaction took place on November 8, 2022.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: $30,200,000
  • Lender: Castellan Real Estate Partners
  • Loan Type: Bridge Refi Cash-Out
  • Landlord: The Festival Companies
  • Brokers: Seth Grossman & Dorian Aftalion - Meridian Capital Group

The loan for this transaction was provided by Castellan Real Estate Partners, with Steven Victor representing the lender. The landlord involved in this deal is The Festival Companies. Seth Grossman and Dorian Aftalion from Meridian Capital Group served as the brokers in this transaction.

It's worth noting that Meridian Capital Group is America's most active real estate finance and advisory firm, having closed over $55 billion in financing in 2021 across various property types. They represent many of the world's leading real estate investors and developers.

Details

FINANCED
IMAGE: Seth Grossman, Dorian Aftalion & Steven Victor DATE: 11/08/2022 ADDRESS: 1555 Simi Town Center Way - Simi Valley Town Center MARKET: Simi Valley, CA ASSET TYPE: Retail ~ SF: 602,000 LENDER: Castellan Real Estate Partners (@CastellanCapital) - Steven Victor LANDLORD: The Festival Companies (@TheFestivalCompanies) BROKERS: Seth Grossman & Dorian Aftalion (@DorianAftalion) - Meridian Capital Group (@Meridian.Capital.Group) LOAN AMOUNT: $30,200,000 LOAN TYPE: Bridge Refi Cash-Out NOTE FROM BROKER: @Meridian.Capital.Group is America’s most active real estate finance and advisory firm, having closed over $55 billion in financing in 2021 across all property types, including multifamily, office, retail, hotel, mixed-use, industrial, and construction. Meridian represents many of the world’s leading real estate investors and developers.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$30,200,000.00

Monthly NOI$201,333.33
Monthly Debt Service$190,884.54
Change in Cash Flow$0.00
Refinance Proceeds$0.00