L.J. Melody Arranges $27 Mil In Financing

DENVER-The local office of L.J. Melody & Co. has arranged $26.875 million to refinance three office buildings for Minshall Stewart Properties of Bethesda, MD. But only one of the buildings is in Denver, although all three deals were put together by Eric Tupler and James T. Cobb Jr. of Denver’s L.J. Melody office.

The largest refinance was a $14.5 million loan on 88 E. Broad St., a 253,309-sf class A office building in Downtown Columbus, OH. Bear Stearns provided a 24-month floating rate bridge loan on an interest only basis.

In the Denver deal, Bear Stearns provided a 24-month floating rate bridge loan for $6.2 million for Plaza 6000, a 104,000-sf office building at 6000 E. Evans Ave.

The third deal was a $5.175-million fixed-rate loan on the Summit building, an 80,600-sf building in Silver Springs, MD. The loan provides a five-year term with a 30-year amortization schedule.

Minshall Stewart aligns itself with institutional capital providers and invests in opportunistic real estate deals where it can add value. L.J. Melody, based in Houston, is a CB Richard Ellis company. It is one of the largest real estate investment banking firms in the U.S. Over the past two years, it arranged $13 billion in commercial real estate deals nationwide.