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 theon 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 anadvisory firm sponsoring a series of investment programs with an emphasis on publicly registered non-traded real estate offerings.