New Brooklyn Medical Center Refis With $49M CMBS Loan
Meridian Capital Group arranged a $49 million CMBS loan for the refinance of the newly built Calko Medical Center in Brooklyn, Mortgage Observer has first learned.
Calko was built last year and holds 125,000 square feet of office and retail space. The medical center holds an ambulatory surgery center, medical offices and a pharmacy and is located at 6002 Bay Parkway in Brooklyn’s Bensonhurst neighborhood. It cost about $60 million to develop, according to published reports.
The 10-year CMBS loan features a competitive fixed-rate and a three-year interest-only period, a representative for Meridian said.
Meridian declined to provide further information on the loan, but a source close to the deal said the lender was MC Five Mile Commercial Mortgage Finance and the rate was 4.75 percent. A call to MC Five Mile was not returned.
Meridian Senior Managing Director Abe Hirsch and Managing Director Zev Karpel worked on the deal, the Meridian representative said.