{"id":1004232330,"date":"2018-05-29T02:16:09","date_gmt":"2018-05-29T10:16:09","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004232330"},"modified":"2022-12-07T10:02:16","modified_gmt":"2022-12-07T18:02:16","slug":"meridian-capital-lines-up-105m-for-socal-office-refi","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/meridian-capital-lines-up-105m-for-socal-office-refi\/","title":{"rendered":"Meridian Capital Lines Up $105M for SoCal Office Refi"},"content":{"rendered":"

By Keith Loria, Contributing Editor<\/em><\/p>\n

\"SAG-AFTRA<\/a>

SAG-AFTRA Plaza<\/p><\/div>\n

Meridian Capital Group has facilitated a $105 million financing deal for the SAG-AFTRA Plaza, an 11-story, 548,000-square-foot office property in Los Angeles, for an affiliate of J.H. Snyder Co., which has owned the building for more than 40 years.<\/p>\n

Seth Grossman, Meridian\u2019s senior managing director, along with Steve Edelstein and Jackie Tran, company vice presidents, arranged a 10-year loan with a life insurance company, which features a fixed rate of below 4 percent and full-term interest-only payments.<\/p>\n

\u201cFor decades, through many real estate cycles, we have taken tremendous pride in owning and managing this best-in-class asset, and we could not be happier with the results of the refinance,\u201d <\/em>Lon Snyder, J.H. Snyder Co.\u2019 senior partner, said in a prepared statement. \u201cThe Meridian team diligently canvassed the market on our behalf bringing an array of different options. From their initial engagement through assisting with post-closing items, they worked around the clock to ensure satisfaction.\u201d<\/em><\/p>\n

In addition to housing its namesake\u2014the Screen Actors Guild-American Federation of Television and Radio Artists\u2014the SAG-AFTRA Plaza is home to a number of international entertainment, media, cultural and communication-oriented firms.<\/p>\n

Part of An L.A. Legacy<\/strong><\/h2>\n

Located at 5757 Wilshire Blvd., the property boasts 28,000 square feet of street-front restaurant and retail space and is considered one of the top buildings along the Miracle Mile, a stretch of Wilshire Boulevard that is home to the La Brea Tar Pits pavilion, the Los Angeles County Museum of Art and The Petersen Automotive Museum.<\/p>\n

\u201cSpanning many decades, the J.H. Snyder Co. developed millions of square feet of Class A real estate along Wilshire Blvd., helping form the Miracle Mile into what it is today,\u201d <\/em>Grossman said. \u201cThis refinance assists with the continuance of that formation, as this financing was critical in facilitating a necessary lot-split, which will result in further development by their firm on the newly created parcel. It\u2019s a privilege as an intermediary to work with such a historically successful, sophisticated and well-respected ownership team.\u201d<\/em><\/p>\n

The Academy Museum of Motion Pictures is slated to open in 2019 and will be only a few blocks away from the prominent office building.<\/p>\n

These companies have worked together many times in the past. In December, Meridian Capital Group secured a $68 million bridge loan<\/a> for a Class A office building in the North Hollywood area of Los Angeles on behalf of J. H. Snyder Co.<\/p>\n

In May, Meridian Capital Group arranged $13 million in refinancing<\/a> for Windsor Suites, a mixed-use hotel and multifamily property in downtown Philadelphia.<\/p>\n

Image courtesy of Meridian Capital Group<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

An affiliate of J.H. Snyder Co. used the funds to refinance the 11-story SAG-AFTRA Plaza building along the Miracle Mile in Los Angeles.<\/p>\n","protected":false},"author":451,"featured_media":1004232342,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,1594,21742,21747,15],"tags":[33375,38260],"class_list":["post-1004232330","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-los-angeles","category-latest","category-office","category-west","tag-meridian-capital-group","tag-seth-grossman"],"acf":[],"yoast_head":"\nMeridian Capital Lines Up $105M for SoCal Office Refi - 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-lines-up-105m-for-socal-office-refi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Meridian Capital Lines Up $105M for SoCal Office Refi\" \/>\n<meta property=\"og:description\" content=\"An affiliate of J.H. 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