NEW YORK—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. The property is 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 development.
“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.