Meridian Capital Group

Meridian Capital Group Closes Slew of Transactions

September 02, 2022

Meridian Capital Group’s Senior Housing and Healthcare team closed $580 million in transaction volume over the course of the summer, bringing their year-to-date total to nearly $3 billion in 2022. These transactions were negotiated by Meridian’s Senior Housing and Healthcare platform, led by Ari Adlerstein and Josh Simpson.

The recent transactions include a $115.2 million acquisition loan from a commercial bank in addition to a $15 million A/R line for 10 SNFs with 1,112 beds in California, a $69 million loan from a commercial bank in addition to a $2 million A/R line for the acquisition of one facility and the refinance of two facilities totaling 468 skilled nursing beds in New Jersey, and a $33.8 million acquisition loan from a finance company along with a $2 million A/R line for two SNFs in Louisiana consisting of 260 beds.

They also closed a $32 million acquisition loan from a commercial bank in addition to a $2 million A/R line for a 124-bed SNF in New Jersey, a $28.5 million construction loan from a commercial bank for a Florida community consisting of 99 assisted living and 32 memory care beds, and a $12.4 million acquisition loan from a finance company for two SNFs in Connecticut totaling 314 beds. 

The team’s recent refinance activity includes a $21.9 million HUD loan for a facility in New Jersey consisting of 120 SN and 47 AL beds, a $12 million loan from a commercial bank for a facility in Arizona totaling 62 memory care units, and a $6.7 million loan from a commercial bank for a 108-bed SNF in Louisiana. 

The team was also active in investment sales, selling six skilled nursing facilities consisting of 745 beds in Connecticut for $67 million, or $90,000 per bed, and arranged $58.7 million in financing from a commercial bank and mezzanine lender for the acquisition. They also sold two facilities comprising 111 assisted living units and 20 memory care beds in Ohio for $22.9 million, or $174,800 per unit, on behalf of a notable senior housing private equity firm. In conjunction, the team arranged a $13.1 million acquisition loan from a finance company and a $7.5 million acquisition loan from a commercial bank for the buyer of the facilities, a growing private owner and operator. Rounding out their recent activity, they sold a 127-bed skilled nursing facility in Massachusetts for $8.2 million, or $64,600 per bed.

Featuring:
Ari Adlerstein
Senior Managing Director
Origination
(212)612-0174
[email protected]
Josh Simpson
Managing Director
Origination
(212)612-0243
[email protected]
Read Article
Recent Articles | Back to News

2022 Industry Leaders: Nicoletta Pagnotta, Meridian Capital Group

Article
September 2, 2022

Kassin, Schechtman, DellAnno, and Gladstone of Meridian handle $10.75 million sale leaseback

Article
September 2, 2022

“DO WHAT YOU LOVE, AND YOU’LL NEVER HAVE A PROBLEM WITH MONDAY”

Article
September 2, 2022

Meridian Arranges Acquisition Loan for Gowanus Development Site

Article
September 2, 2022

Meridian’s Ravvin, Doshi and Mehra complete sale of development site in Greenpoint

Article
September 2, 2022

Meridian Closes on Record-Setting Greenpoint Development Site Sale

Article
September 2, 2022