CHICAGO—Meridian Capital Group L.L.C., a national commercial real estate finance and advisory firm, negotiated $50 million in financing on behalf of Flagship Partners L.L.C. for its retail property located at 25 East Oak Street in Chicago.
The 10-year CMBS loan was provided by Goldman Sachs and has a competitive fixed-rate. Meridian Executive Vice President Aaron Birnbaum, Managing Director Ronnie Levine and Vice President Tal Savariego, all based in the company’s New York City headquarters, negotiated the transaction.
The three-story retail building contains 38,445 sq. ft. of rentable space as well as 8,000 sq. ft. of common areas and storage space. The property is located on the corner of East Oak Street and North Rush Street, in Chicago’s Gold Coast.
Tenants at 25 East Oak Street include Hermes, Giorgio Armani and Vera Wang, among others.