NEW YORKâ€”Meridian Capital Group L.L.C., a commercial real estate finance and advisory firm, negotiated $20.2 million in acquisition financing on behalf of an affiliate for its purchase of three retail and office buildings in Brooklyn. Meridian Capital Managing Director Tal Bar-Or negotiated the deal on behalf of American Realty Capital.
American Realty Capital initially financed the purchase using equity and by drawing on its credit facility. The company repaid the credit facility with a five-year loan arranged by Meridian.
The acquired properties occupy a prominent corner at the intersection of Kings Highway and Coney Island Avenue in Brooklynâ€™s Midwood neighborhood.
American Realty Capital is an investment advisory firm sponsoring a series of investment programs with an emphasis on publicly registered non-traded real estate offerings.