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Meridian Group Secures $81.9M Refinance Loan For One Logistics Park Building 2 In Winchester

Property Image
FINANCED
$81,900,000

Virginia

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Industrial1,020,000 SF
Financed 10/08/2025
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Property Image
FINANCED

Meridian Group Secures $81.9M Refinance Loan For One Logistics Park Building 2 In Winchester

1251 Coverstone Drive

See Similar Deals
Industrial1,020,000 SF
Financed 10/08/2025
the dealplayerscompscontact
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Summary

VIRGINIA
Asset Type:Industrial
Price Per Square Foot:$80
Total Square Footage:1,020,000 SF
Transaction Type:Loan

The property asset involved in this transaction is located at 1251 Coverstone Drive in Winchester, VA. It is classified as an industrial asset, encompassing a total square footage of 1,020,000. The property has been refinanced for a total amount of $81,900,000. With 40-ft clear heights, 177 docks, and a total of 1,022 parking spaces, the property is currently 38% leased.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $81,900,000
  • Lender: Doug Tiesi - Argentic Investment Management
  • Landlord: Meridian Group
  • Loan Type: Refinance
  • Market: Winchester, VA
  • Asset Size: 1,020,000 SF

This transaction involves Doug Tiesi from Argentic Investment Management providing the loan, representing the lender's interests in the refinancing of the property owned by Meridian Group. The refinancing is aimed at managing existing construction debt related to the asset delivered earlier this year.

Players

A
Argentic
LENDER
AM
Argentic Investment Management
LENDER
MG
Meridian Group
LANDLORD

Details

FINANCED
IMAGE: 10/08/2025 ADDRESS: 1251 Coverstone Drive MARKET: Winchester, VA ASSET TYPE: Industrial ~ SF: 1,020,000 LENDER: Doug Tiesi - Argentic Investment Management LANDLORD: Meridian Group LOAN AMOUNT: $81,900,000 LOAN TYPE: Refinance NOTE: Argentic Investment Management provided an $81.9M loan for One Logistics Park Building 2 in Winchester, Va., owned by Meridian Group, to refinance existing construction debt. The 1.02M-sf industrial property, delivered earlier this year, is 38% leased and features 40-ft clear heights, 177 docks, and 1,022 total parking spaces.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$81,900,000.00

Monthly NOI$546,000.00
Monthly Debt Service$517,663.71
Change in Cash Flow$0.00
Refinance Proceeds$0.00