Meridian Capital Group, America’s most active dealmaker, arranged $4.9 million in acquisition financing for a Red Lobster casual dining restaurant located in Orlando, FL.
The 10-year loan, provided by a regional bank, features a rate of 4.16% and was negotiated by Meridian Associate, Avi Gorbacz, who is based in the company’s New York City headquarters.
The property, located at 5936 International Drive, is a single-story, 7,400 square foot retail property that is currently home to a Red Lobster restaurant. The property is a short distance from Disney World, making it one of the most active family restaurants in the area.
Situated in the heart of Orlando’s family-friendly resort scene, the property is right off of International Drive, and in close proximity to major transit arteries, including Universal Boulevard, South Kirkman Road, Interstate 4 and Florida State Road 400. The building is also conveniently close to the best amenities and experiences in Orlando, including hotels, shops, golf courses, lounges, bars, entertainment, and amusement venues.
“By making a market based on the location, tenancy and sponsorship, Meridian was able to secure competitive bank financing rates for this specialized asset," said Mr. Gorbacz.
Founded in 1991, Meridian Capital Group is America’s most active deal maker and one of the nation’s leading commercial real estate finance and investment sales firms. In 2016, Meridian closed $35 billion in loan volume and sold over $2 billion in commercial properties. Since inception, the company has closed more than $270 billion in financing with the full complement of capital providers, encompassing local, regional and national banks, CMBS lenders, agency lenders, mortgage REITs, life insurance companies, credit unions and private equity funds. Meridian represents many of the world’s leading real estate investors and developers and the company’s expansive platform has specialized practices for a broad array of property types including office, retail, multifamily, hotel, mixed-use, industrial, healthcare, student housing and self-storage properties. Meridian is headquartered in New York City with offices in New Jersey, Maryland, Illinois, Ohio, Florida and California. www.meridiancapital.com