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

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.