$23M in CMBS Financing Arranged for Cedar Ridge Office Park
TS Partners, owner of the two-building, 129,000-square-foot Cedar Ridge Office Park, secured refinancing to the tune of $23.3 million for the property. Meridian Capital Group’s Allan Lieberman, Steven Adler and Simcha Schick arranged for the 10-year, CMBS loan on behalf of the sponsor.
The asset in question is at 850 and 950 E. State Hwy. in the Fort Worth suburb of Southlake, TX. Sinceacquiring the property in 2013, TS Partners has maintained close to full occupancy with tenants including American Specialty Health and Regus.
Keller Williams, one of the main tenants, occupied the space from when it delivered in the mid-2000s until 2017, when the company relocated. In the meantime, Coldwell Banker signed a lease for space at $32.50 per square foot.