California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Meridian Arranges $70M Revolving Line of Credit for National Debt Fund
Meridian Capital Group arranged a $70-million revolving line of credit for a large national debt fund that focuses on bridge financing across all asset classes. The transaction was negotiated by members of Meridian’s West Coast team based in San Diego, including Seth Grossman and Jackie Tran.
The two-year revolving line of credit that then terms out to match duration with the debt fund’s life features a competitive LIBOR-based rate and was provided by a strong regional banking relationship of Meridian’s. The facility provides for no market to market adjustments and in many situations, draws can be funded the same day they are requested.
Grossman says, “We are working with several debt funds and REITs with similar assignments, in addition to assisting with the placement of A-notes, senior mortgages, and note sales, as many large money center and investment banks that provided warehouse and line financing quickly recoiled amidst the COVID-19 pandemic.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing




