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.

SEE ALSO: New York’s Top Real Estate Financiers Talk CMBS, Global Capital and Non-Bank Lenders

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.