{"id":1004169044,"date":"2017-03-13T07:38:30","date_gmt":"2017-03-13T15:38:30","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004169044"},"modified":"2020-05-14T03:14:58","modified_gmt":"2020-05-14T11:14:58","slug":"meridian-arranges-refi-for-delaware-shopping-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/meridian-arranges-refi-for-delaware-shopping-center\/","title":{"rendered":"Meridian Arranges Refi for Delaware Shopping Center"},"content":{"rendered":"<p><em>By Laura Calugar<\/em><\/p>\n<div id=\"attachment_1004169045\" style=\"width: 403px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Milford-Plaza-002.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004169045\" data-attachment-id=\"1004169045\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/meridian-arranges-refi-for-delaware-shopping-center\/milford-plaza-002\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Milford-Plaza-002.jpg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Milford Plaza (002)\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Milford-Plaza-002.jpg?w=800\" class=\"wp-image-1004169045\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Milford-Plaza-002.jpg\" alt=\"The Milford Plaza Shopping Center in Milford, Del. \" width=\"393\" height=\"295\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Milford-Plaza-002.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Milford-Plaza-002.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Milford-Plaza-002.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 393px) 100vw, 393px\" \/><\/a><p id=\"caption-attachment-1004169045\" class=\"wp-caption-text\">The Milford Plaza Shopping Center in Milford, Del.<\/p><\/div>\n<p><strong>Milford, Del.<\/strong>\u2014Meridian Capital Group arranged $18 million in financing on behalf of Tsonias Management for Milford Plaza, a shopping center located in the heart of Milford\u2019s retail corridor. The loan features a fixed rate of 5.1 percent, full-term interest-only payments and was provided by a CMBS lender.<\/p>\n<p>Located at 656 North Dupont Blvd., the 172,200-square-foot asset is situated at the heavily trafficked intersection of routes 9 and 113 and is in close proximity to Delaware\u2019s beach towns, which provide a seasonal increase in traffic. Major tenants include The Peebles Corp., Sherwin-Williams, Save-A-Lot, Chick-fil-A and Dollar General.<\/p>\n<p>\u201cThe deal was underwritten by several lenders and sized to a $13.5 million loan amount, but Meridian identified a CMBS lender that was able to include the income of five tenants who had signed leases but had not yet completed occupancy, which allowed for the loan proceeds to reach $18 million,\u201d Jim Bologno, Meridian\u2019s senior vice president, in a prepared statement.<\/p>\n<p>According to <em><a href=\"https:\/\/milfordlive.com\/2012\/09\/08\/milford-plaza-undergoes-renovation\/\" rel=\"nofollow\" target=\"_blank\">Millford Live<\/a>,<\/em> the 1973-built shopping center underwent a major renovation back in 2012.<\/p>\n<p>Recently, Meridian Capital secured <a href=\"https:\/\/www.commercialsearch.com\/news\/meridian-secures-40m-financing-for-hartford-office-asset\/\" target=\"_blank\">financing<\/a> for Hartford, Conn., office asset.<\/p>\n<p><em>Image courtesy of Meridian Capital <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The loan will be used on Tsonias Management&#8217;s Milford Plaza.<\/p>\n","protected":false},"author":238,"featured_media":1004169045,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,11,21742,21749],"tags":[33375],"class_list":["post-1004169044","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-midatlantic","category-latest","category-retail","tag-meridian-capital-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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