Meridian Group Buys Rosslyn Office Building At Foreclosure Auction For $58M

The Meridian Group is continuing to expand its Northern Virginia office holdings with a Rosslyn building it won at a foreclosure auction. 
A Meridian affiliate won a Wednesday auction for the 1500 Wilson Blvd. building with a $58.3M bid after the previous owner defaulted on its debt, the Washington Business Journal reports. 
The building was previously owned by an affiliate of Penzance. Its lender, an affiliate of Mesa West Capital, alleged it defaulted on $95.6M of debt it took out in 2018, and Mesa then scheduled the foreclosure auction. Meridian then acquired the debt from Mesa before the auction was held, and it was the only bidder at the…

Leave a Comment

Your email address will not be published. Required fields are marked *