NEW YORK CITY—Meridian Capital Group has negotiated $120 million in financing for the purchase of a majority stake in 30 Park Ave. by Cammeby's International. The sale of the multifamily building closed for $194 million. GlobeSt.com has confirmed that Thor Equities Residential went into contract to buy the 241-unit Murray Hill building in December, as the Real Deal reports, and it still holds a stake in the property.
Sun Equity Partners and Beekman REIM now also hold stakes in the 236,00-square-foot, asset which has 237 apartments and four commercial units spanning 3,500 square feet, GlobeSt.com has confirmed. The seller is a partnership between BlackRock and California pension fund CalPERS.
The five-year loan, provided by Ladder Capital, features a fixed-rate of 2.87% and interest-only payments for the full term. The transaction was negotiated by Meridian Capital Group senior managing director Abe Hirsch and VP Akiva Friend, who both are based in the company's New York City headquarters.
Constructed in 1955, 30 Park Ave. stands at 20 stories and also includes a 142-space parking garage. The property is located on the northwest corner of Park avenue and East 36th street in the Murray Hill neighborhood and is in close proximity to Grand Central Terminal.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
