Meridian Capital Group

Meridian Capital Group’s Senior Housing and Healthcare Team Closed $2.2 Billion in Transaction Volume Year-to-Date in 2022

June 17, 2022

Meridian Capital Group’s Senior Housing and Healthcare Team has closed $2.2 billion in transaction volume year-to-date in 2022, following a record year in 2021 where they closed nearly $5.6 billion.

These transactions were negotiated by Meridian’s Senior Housing and Healthcare Platform, led by Ari Adlerstein and Josh Simpson, along with Vice Presidents, Matt Lesnik, Jesse Rauch, and Rafi Sod, and Senior Associates, David Gottlieb, Jacob Scott, and Yuval Hananya, as well as Associate, Dylan O’Connor.

The team’s recent transactions include a $135 million loan from a finance company to refinance nine skilled nursing facilities totaling 1,411 beds in Maryland, Georgia, and West Virginia; a $30 million loan from a commercial bank to refinance a 181-bed assisted living facility in New York; and a $28 million loan from a finance company and commercial bank for a Pennsylvania facility comprised of 375 skilled nursing and 32 independent living units.

They sold two skilled nursing facilities in New York totaling 515 beds for $129.3 million and arranged a $129.5 million loan, which includes capex and AR, from a commercial bank for the acquisition; and sold five facilities in Utah and Nevada comprised of 386 assisted living beds and 222 memory care beds for $56.1 million. They arranged a $33.3 million loan from a finance company and a commercial bank for the acquisition of four of the five properties. Mr. Begun negotiated the sale and financing for the properties in Utah and Nevada.

Mr. Begun also arranged the sale of five skilled nursing facilities totaling 580 beds for $87 million, while Meridian Vice President Sim Goldberg arranged the sale of three skilled nursing facilities consisting of 574 beds for $71.5 million and closed a $65 million loan from a finance company and commercial bank along with a $3 million AR line for the acquisition.

In Tennessee, the team sold two skilled nursing facilities consisting of 303 beds for $46.5 million and arranged a $37.9 million loan from a commercial bank along with a $3 million AR line for the acquisition.

The team’s recent closings include several additional acquisition loans, including a $71.4 million loan from a finance company for six facilities consisting of 299 skilled nursing, 107 assisted living, and 104 independent living beds in Ohio; a $48 million loan from a finance company for eight facilities comprised of 375 skilled nursing and 74 independent living beds in Wisconsin; a $30 million loan from a commercial bank for two facilities totaling 274 skilled nursing and 93 assisted living units in Florida; and a $26.2 million loan from a finance company in addition to a $3 million AR line for three Texas facilities consisting of 225 skilled nursing and 66 assisted living units. The Florida and Texas transactions were negotiated by Meridian Senior Vice President, Avi Begun.

Additionally, they arranged $20.4 million in financing from a commercial bank along with a $5 million AR line for the acquisition of three skilled nursing facilities totaling 404 units in Wisconsin; $16.5 million in financing from a finance company in addition to a $2 million AR line for the acquisition of two skilled nursing facilities consisting of 168 beds in Alabama; and $7.7 million in financing from a commercial bank for the acquisition of a 130-bed skilled nursing facility in Georgia. They also closed a $48 million acquisition loan from a finance company for eight facilities comprised of 375 assisted living and 74 independent living beds in Wisconsin.

Rounding out their recent activity, the team closed a $42 million from a finance company for the construction of a California facility comprised of 82 assisted living and 24 memory care beds and a $38.2 million construction loan for a 58-bed assisted living and 72-unit memory care facility in New Jersey.

The specialists on Meridian’s senior housing and healthcare team have proven themselves as experts across a wide variety of financing types, including acquisition, construction, mezzanine, bridge and permanent as well as accounts receivables financing. To achieve outstanding outcomes for clients, the team works with a broad array of lenders spanning specialized banks, CMBS lenders, debt funds, life insurance companies, and agency lending platforms, in addition to providing a broad array of advisory services such as equity capital markets and investment sales across all sub-asset classes of senior housing and healthcare properties.

Featuring:
Ari Adlerstein
Senior Managing Director
Origination
(212)612-0174
[email protected]
Josh Simpson
Managing Director
Underwriting and Loan Placement
(212)612-0243
[email protected]
Avi Begun
Senior Vice President
Origination
(646) 502-3408
[email protected]
Matthew Lesnik
Vice President
Underwriting and Loan Placement
(646)502-3435
[email protected]
Jesse Rauch
Vice President
Underwriting and Loan Placement
(646)502-3426
[email protected]
Yuval Hananya
Senior Associate
Underwriting and Loan Placement
[email protected]
David Gottlieb
Senior Associate
Underwriting and Loan Placement
(646) 502-3462
[email protected]
Rafi Sod
Vice President
Origination
646.502.3466
[email protected]
Jacob Scott
Senior Associate
Underwriting and Loan Placement
(646) 502-3448
[email protected]
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