Meridian Capital Group, America’s most active debt broker, arranged $64 million in acquisition financing for the purchase of a portfolio consisting of three nursing homes and one assisted living facility located in Massachusetts.
The two-year bridge-to-HUD loan, provided by a finance company, features full-term interest-only payments. This transaction was negotiated by Meridian Managing Director, Ari Adlerstein, Managing Director, Ari Dobkin, and Vice President, Josh Simpson, who are all based in the company’s New York City headquarters.
“Meridian negotiated a two-year bridge-to-HUD loan with full-term interest-only payments,” explained Mr. Dobkin. “Additionally, this acquisition financing includes a $5 million earn-out, making this an 90% loan-to-cost deal.”
Founded in 1991, Meridian Capital Group, LLC is one of the nation’s largest commercial real estate finance and advisory firms. Meridian is headquartered in New York with offices in New Jersey, Maryland, Illinois, Florida and California. Working with a broad array of capital providers, Meridian arranges financing for transactions ranging from $1 million to more than $500 million for multifamily, co-op, office, retail, hotel, mixed-use, industrial, healthcare, student housing, self-storage and construction properties. www.meridiancapital.com