Meridian Capital Group Arranges $70M Refinance Loan For Hotel In New York

The hotel property in New York underwent A-Note financing for a loan amount of $70,000,000 from a regional bank. The loan was secured as a refinance with a 3-year term at a floating rate.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $70,000,000
• Lender: Regional Bank
• Brokers: Drew Anderman & Benjamin Nevid - Meridian Capital Group
• Loan Type: Refinance
• Loan Terms: 3-year term, floating rate

Drew Anderman and Benjamin Nevid from Meridian Capital Group represented the parties in the A-Note financing deal. They played a crucial role in facilitating the transaction between the borrower and the regional bank, ensuring a successful refinance of the hotel property in New York.