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Meridian Arranges $240M CMBS Refi for Ogilvy & Mather HQ
Meridian Capital Group has arranged $240 million to refinance the Hakimian Organization’s 636 Eleventh Ave. The Far West Side office property serves as ad agency Ogilvy & Mather’s global headquarters.
The 10-year CMBS loan features full-term interest-only payments. Meridian’s EVP Jeff Weinberg and Senior Managing Director Rael Gervis arranged the transaction.
Completed in 1910, 636 Eleventh was originally home to the Auerbach Chocolate Factory, before being repositioned for office space. When Ogilvy & Mather committed to a 20-year, 550,000-square-foot lease in 2009, it was a pioneer in the neighborhood. Residential and commercial development in the vicinity have since caught up.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing

