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Meridian Arranges CMBS Refi on Jamaica Retail

Meridian Capital Group recently arranged a $64-million refinancing for Jamaica Retail Center in Queens.

The 10-year CMBS loan features full-term interest-only payments. It was negotiated by senior managing director Cary Pollack, managing director Charles Grussgott and VP Michael Helmreich, all based in the company’s New York City headquarters. 

Located in the Jamaica neighborhood of Queens, Jamaica Retail Center was completed in 2019 and spans 133,607 square feet. The retail center is anchored by Burlington, which occupies 70,000 square feet on part of the second floor as well as the entire third and fourth floors of the building. Additional tenants include H&M, Target, and Jollibee. 

The property is centrally located in the downtown area of Jamaica and is just steps away from Jamaica Center, which offers access to four subway lines, the Long Island Rail Road, and the AirTrain to and from John F. Kennedy International Airport. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
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