{"id":1004126134,"date":"2015-08-26T05:45:15","date_gmt":"2015-08-26T13:45:15","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=359258"},"modified":"2022-12-08T16:13:30","modified_gmt":"2022-12-09T00:13:30","slug":"meridian-capital-group-closes-10-8m-financing-for-mississippi-plaza","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/meridian-capital-group-closes-10-8m-financing-for-mississippi-plaza\/","title":{"rendered":"Meridian Capital Group Closes $10.8M Financing for Mississippi Plaza"},"content":{"rendered":"

By Adelina Osan, Associate Editor<\/em><\/p>\n

Class A office property Mississippi Plaza, located in Davenport, got $10.8 million in CMBS financing after America\u2019s most active debt broker, Meridian Capital Group<\/a>, negotiated on behalf of Financial District Properties<\/a>.<\/p>\n

\"Mississippi<\/a><\/p>\n

Mississippi Plaza<\/p>\n<\/div>\n

Silverpeak Real Estate Finance<\/a> provided a 10-year loan closed in a 19-day time frame. The loan features a fixed-rate of 4.77% and interest-only payments for the first year. This transaction was negotiated by Meridian Capital Group Managing Director, Brian Flax, and Associate Corey Schwartz, who are both based in the Company\u2019s New York City headquarters.<\/p>\n

The 88,778-square-foot office property is located at 201 North Harrison Street in Davenport and is recognized as the \u201cmost appealing office building\u201d in the area.<\/p>\n

\u201cThis transaction presented a significant challenge as the two largest tenants, who occupy a combined 70% of the building, have leases with the same expiration date which roll during the term of the loan,\u201d mentioned Schwartz. \u201cMeridian worked closely with the talented team at Silverpeak on a creative structure that allows the sponsor to maintain sufficient ongoing cash flow while building up a reserve for tenant improvements and leasing commissions.\u201d<\/p>\n

Several major businesses are tenants in Mississippi Plaza including Lee Enterprises<\/a> and RSM McGladrey<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Class A office property Mississippi Plaza located in Davenport gets $10.8 million in CMBS financing after America’s most active debt broker, Meridian Capital Group, negotiated on behalf of Financial District Properties.<\/p>\n","protected":false},"author":735,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21742],"tags":[682],"class_list":["post-1004126134","post","type-post","status-publish","format-standard","hentry","category-chicago","category-latest","tag-news"],"acf":[],"yoast_head":"\nMeridian Capital Group Closes $10.8M Financing for Mississippi Plaza - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/meridian-capital-group-closes-10-8m-financing-for-mississippi-plaza\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Meridian Capital Group Closes $10.8M Financing for Mississippi Plaza\" \/>\n<meta property=\"og:description\" content=\"The Class A office property Mississippi Plaza located in Davenport gets $10.8 million in CMBS financing after America’s most active debt broker, Meridian Capital Group, negotiated on behalf of Financial District Properties.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/meridian-capital-group-closes-10-8m-financing-for-mississippi-plaza\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-08-26T13:45:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T00:13:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/08\/Mississippi-Plaza.jpg\" \/>\n<meta name=\"author\" content=\"Adelina Osan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/meridian-capital-group-closes-10-8m-financing-for-mississippi-plaza\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/meridian-capital-group-closes-10-8m-financing-for-mississippi-plaza\\\/\"},\"author\":{\"name\":\"Adelina Osan\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/423ceee57e2e9ef5e458c68f8a3aa615\"},\"headline\":\"Meridian Capital Group Closes $10.8M Financing for Mississippi Plaza\",\"datePublished\":\"2015-08-26T13:45:15+00:00\",\"dateModified\":\"2022-12-09T00:13:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/meridian-capital-group-closes-10-8m-financing-for-mississippi-plaza\\\/\"},\"wordCount\":209,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/meridian-capital-group-closes-10-8m-financing-for-mississippi-plaza\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/08\\\/Mississippi-Plaza.jpg\",\"keywords\":[\"News\"],\"articleSection\":[\"Chicago\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/meridian-capital-group-closes-10-8m-financing-for-mississippi-plaza\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/meridian-capital-group-closes-10-8m-financing-for-mississippi-plaza\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/meridian-capital-group-closes-10-8m-financing-for-mississippi-plaza\\\/\",\"name\":\"Meridian Capital Group Closes $10.8M Financing for Mississippi Plaza - 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