Meridian Capital Group negotiated a $28.1 million CMBS loan for the purchase of an office property located in Hartford, CT on behalf of SGS Pearl LLC and Shelbourne Pearl LLC.
The 10-year loan, provided by a CMBS lender, features a 75 percent loan-to-cost ratio and a competitive fixed-rate of in the low-4.00% range with two years of interest-only payments.
The transaction was negotiated by managing director Shaya Ackerman, managing director Steven Adler and vice president, Jacob Schmuckler.
The 17-story Class-A office property, located at 100 Pearl Street in downtown Hartford, totals 281,000 s/f. Built in 1989, the property is one of the newest Class-A office buildings in the Central Business District area of Hartford.
Building amenities include an on-site parking garage, fitness center, state-of-the-art conference rooms, a food service lounge with seating, an art gallery, building concierge and 24-hour security.