January 23, 2018
Meridian Capital Group, America’s most active dealmaker, arranged $136 million in acquisition financing for a portfolio containing 10 skilled nursing facilities throughout OH.
The five-year loan was provided by a balance sheet lender, features six months of interest-only payments, and a 25-year amortization schedule. This transaction was negotiated by Meridian Managing Directors, Ari Adlerstein and Ari Dobkin, Vice President, Josh Simpson, and Associate, Corey Schwartz, who are all based in the company’s New York City headquarters.
The 10-facility portfolio contains 1,464 beds and offers both short-term recovery and rehabilitation services and long-term care, in addition to a memory care program that includes quarterly family nights in addition to a variety of daily activities and therapeutic recreation. The facilities have skilled and caring physical, occupational and speech therapists on staff to provide residents with the highest quality of care in an engaging, compassionate, and vibrant environment.
“This was both a complicated and a unique transaction that needed to close by year end,” said Mr. Dobkin. “Meridian worked with multiple lenders to streamline all moving pieces and ultimately closed the deal within 52 days of its inception.”
Founded in 1991, Meridian Capital Group is America’s most active deal maker and one of the nation’s leading commercial real estate finance and investment sales firms. In 2016, Meridian closed $35 billion in loan volume and sold over $2 billion in commercial properties. Since inception, the company has closed more than $270 billion in financing with the full complement of capital providers, encompassing local, regional and national banks, CMBS lenders, agency lenders, mortgage REITs, life insurance companies, credit unions and private equity funds. Meridian represents many of the world’s leading real estate investors and developers and the company’s expansive platform has specialized practices for a broad array of property types including office, retail, multifamily, hotel, mixed-use, industrial, healthcare, student housing and self-storage properties. Meridian is headquartered in New York City with offices in New Jersey, Maryland, Illinois, Ohio, Florida and California. www.meridiancapital.com