{"id":1004229674,"date":"2018-05-16T05:14:17","date_gmt":"2018-05-16T13:14:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004229674"},"modified":"2022-12-09T02:38:10","modified_gmt":"2022-12-09T10:38:10","slug":"la-area-retail-property-receives-8m-loan","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/la-area-retail-property-receives-8m-loan\/","title":{"rendered":"LA-Area Retail Property Receives $8M Loan"},"content":{"rendered":"<p>By Evelyn Jozsa<\/p>\n<div id=\"attachment_1004229694\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/madeo.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004229694\" data-attachment-id=\"1004229694\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/la-area-retail-property-receives-8m-loan\/madeo\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/madeo.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Evelyn Jozsa&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1526386097&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;1&quot;}\" data-image-title=\"362 N. Camden Drive, Beverly Hills, Calif.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;362 N. Camden Drive, Beverly Hills, Calif.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/madeo.jpg?w=800\" class=\"wp-image-1004229694 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/madeo.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/madeo.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/madeo.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/madeo.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004229694\" class=\"wp-caption-text\">362 N. Camden Drive, Beverly Hills, Calif.<\/p><\/div>\n<p>Meridian Capital Group has arranged $7.8 million in financing for the acquisition of a 7,200-square-foot retail property in Beverly Hills, Calif. The bridge loan features interest-only payments.<\/p>\n<p>At 362 N. Camden Drive, the two-story building is located in the Platinum Triangle area of Beverly Hills, along Santa Monica Boulevard, roughly 14 miles from downtown Los Angeles. It is situated just one block from Rodeo Drive, which offers various dining and shopping options, including luxury retailers such as Prada, Gucci, Cartier and Chanel. The building will temporarily host Madeo restaurant, a hotspot for celebrities.<\/p>\n<p><em>\u201cGiven Meridian\u2019s strong relationship with the lender and the sponsor\u2019s track record, we were able to negotiate highly favorable terms at 85 percent loan-to-cost for the acquisition of the property,\u201d<\/em> said David Oheb, vice president of Meridian Capital, in prepared remarks.<\/p>\n<p>Last month, the company also <a href=\"https:\/\/www.commercialsearch.com\/news\/60m-in-financing-earmarked-for-manhattan-office-building\/\">arranged $60 million in financing<\/a> for a 17-story office building located at 729 Seventh Ave. in Manhattan. The seven-year balance sheet loan features a fixed-rate and an interest-only component during the initial years of the term.<\/p>\n<p><em>Image via Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The two-story building is located in the Platinum Triangle area of Beverly Hills and will temporarily host Madeo restaurant, a hotspot for celebrities. <\/p>\n","protected":false},"author":871,"featured_media":1004229694,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,1594,21742,21749,15],"tags":[40364,33375],"class_list":["post-1004229674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-los-angeles","category-latest","category-retail","category-west","tag-david-oheb","tag-meridian-capital-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>LA-Area Retail Property Receives $8M Loan - 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\/la-area-retail-property-receives-8m-loan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LA-Area Retail Property Receives $8M Loan\" \/>\n<meta property=\"og:description\" content=\"The two-story building is located in the Platinum Triangle area of Beverly Hills and will temporarily host Madeo restaurant, a hotspot for celebrities.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/la-area-retail-property-receives-8m-loan\/\" \/>\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=\"2018-05-16T13:14:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T10:38:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/madeo.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Evelyn Jozsa\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/la-area-retail-property-receives-8m-loan\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/la-area-retail-property-receives-8m-loan\/\",\"name\":\"LA-Area Retail Property Receives $8M Loan - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/la-area-retail-property-receives-8m-loan\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/la-area-retail-property-receives-8m-loan\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/madeo.jpg\",\"datePublished\":\"2018-05-16T13:14:17+00:00\",\"dateModified\":\"2022-12-09T10:38:10+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/7a1fad8f1e02fa4d8f81f7e9ad21736a\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/la-area-retail-property-receives-8m-loan\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/la-area-retail-property-receives-8m-loan\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/la-area-retail-property-receives-8m-loan\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/madeo.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/madeo.jpg\",\"width\":800,\"height\":620,\"caption\":\"362 N. 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