$15M-Plus Refi Deal Closes for Office Property

OWINGS MILLS, MD-The books have been closed on a $15.7-million financing package for 800 Red Brook Blvd., a 137,100-sf office building in the six-structure Red Brook Corporate Center.

Meridian Capital Group’s Jacob Katz and Matthew Texler orchestrated the transaction on behalf of borrower David S. Brown Enterprises, which developed the five-story building in 2002. A Meridian Capital spokesperson tells GlobeSt.com that the purpose of the new mortgage was to allow the borrower to refinance the original construction loan on the property and to lock in an agreeable 5.9% interest rate for a 20-year term. The funds are being provided by a New York-based lender.