Meridian Capital Group

Meridian Capital Group’s February Transaction Haul

March 13, 2023

Meridian Capital Group’s Senior Housing and Healthcare Team closed $689 million in transaction volume over the month of February for a combination of 35 facilities in nine states, following a stellar year in 2022 when they closed more than $6 billion of volume. These transactions were negotiated by Meridian’s Senior Housing and Healthcare Platform, led by Ari Adlerstein and Josh Simpson.

The team’s recent closings include four acquisition loans for a portfolio of 25 skilled nursing facilities to four separate operators, totaling 2,844 beds. These include $244.6 million in senior financing from two commercial banks and one finance company along with an $18 million AR line for 12 skilled nursing facilities comprised of 1,325 beds in Oregon and Hawaii; a $53.4 million loan from a commercial bank in addition to an $8 million AR line for nine Utah facilities totaling 969 beds; a $43.4 million loan from a finance company along with a $3.5 million AR line for three California properties comprised of 340 beds; and a $28 million loan from a finance company in addition to a $3 million AR line for a 210-bed facility in California. Meridian Senior Associate Jacob Scott assisted Josh Simpson and Ari Adlerstein on the underwriting and negotiation of these transactions.

The team sold a behavioral health facility totaling 176 beds for $44 million in New York; arranged $9.1 million in acquisition financing from a commercial bank for a 102-bed skilled nursing facility in New Hampshire; and arranged $3.6 million in acquisition financing from a commercial bank for a 130-bed skilled nursing facility in Iowa.

Rounding out their recent activity, Meridian’s Sim Goldberg sold a 120-bed skilled nursing facility in Nebraska for $14 million and arranged $10.6 million in financing from a commercial bank in addition to a $3.4 million AR line for the acquisition, while Avi Begun arranged $9.6 million in acquisition financing for a 150-bed mental health facility in California.

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