—New York City-based Torchlight Investors has acquired a $27.8 million, non-performing first mortgage loan secured by Meidinger Tower, a 26-story, 332,129-sq.-ft. class A office tower located at 462 South Fourth Street in Louisville, Ky.
Situated in Louisville’s central business district, Meidinger Tower was designed by Skidmore Owings and Merrill and contains flexible 14,000-sq.-ft. floor place. Theis located next to the Fourth Street Live entertainment complex, in close proximity to City Hall and KFC Yum Arena.
The property is part of the Galleria mixed-use.
“Meidinger Tower, located in the center of Louisville’s prime commercial real estate district, represents an excellent value-add opportunity based on its strong demand drivers providing considerable upside potential for our Debt Opportunity Fund IV investors,” said Steve Schwartz, managing director of acquisitions.