Meridian Capital Group, America’s most active dealmaker, arranged $9.75 million in financing for the refinance of an assisted living facility in Bedford, OH.
The 24-month bridge-to-HUD loan features a floating rate. This transaction was negotiated by Meridian Managing Directors, Ari Adlerstein and Ari Dobkin, who are based in the company’s New York City headquarters.
The single story, 224-bed assisted living facility rests on 20 acres and also offers independent living and memory care. All apartments are equipped with a 24-hour emergency call system, patios, weekly housekeeping, and individually controlled heating and air conditioning systems. Additionally, the facility offers a robust events calendar for residents to enjoy, including bingo, art classes, happy hours, and more.
Bedford, OH is a southeastern suburb of Cleveland, the second most populous city in the state. The property is a 30-minute drive from downtown Cleveland and is in close proximity to hospitals, shopping, and dining. It is easily accessible via major interstates and the Cleveland Hopkins International Airport.
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 2017, Meridian closed over 3,000 transactions across more than 200 unique lenders. 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.