Meridian Capital Group’s Senior Housing and Healthcare Team closed nearly $1 billion in transaction volume in the first quarter of 2022 for 97 properties in 19 states, following a record year in 2021 where they closed more than $5.5 billion in transaction volume.
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.
The team’s recent transactions include a $100 million acquisition loan from a commercial bank and mezzanine lender for seven skilled nursing facilities comprised of 848 beds in Florida; an $80.3 million loan from a finance company for the acquisition of four facilities totaling 461 skilled nursing, 298 assisted living, and 125 independent living beds in Ohio, which was negotiated by Senior Vice President, Avi Begun; and a $50 million acquisition loan from a commercial bank for five skilled nursing facilities consisting of 511 beds in Mississippi.
In Florida, they closed a $48.2 million acquisition loan along with a $3 million AR line for four facilities comprised of 341 skilled nursing and 97 assisted living beds as well as a $46 million acquisition loan along with a $3 million AR line for two skilled nursing facilities totaling 360 beds. Both loans were provided by commercial banks.
They also arranged a $34 million acquisition loan from a commercial bank along with a $3 million AR line for three New Hampshire facilities comprised of 246 skilled nursing beds and 72 independent living units, a $29.7 million acquisition loan from a commercial bank for a 192-unit assisted living facility in New York, and a $22.1 million loan from a commercial bank for the acquisition of a facility consisting of 66 assisted living and 23 memory care units in Nebraska, which was negotiated by Avi Begun.
Additionally, they closed a $19.7 million loan from a finance company for the acquisition of two skilled nursing facilities comprised of 182 beds in New York, and a $19.3 million construction loan from a commercial bank for an Ohio facility totaling 46 skilled nursing beds in addition to 19 assisted living, 25 independent living, and 15 memory care units. Meridian Vice President Sim Goldberg also closed a $19 million acquisition loan from a finance company in addition to a $2.5 million AR line for two skilled nursing facilities in North Carolina totaling 280 beds.
The team’s recent transactions also include several refinances, including a $29 million loan from a commercial bank for three facilities totaling 195 assisted living, 20 independent living, and 58 memory care units in Washington, which was negotiated by Avi Begun, and a $16 million loan for a 271-bed skilled nursing facility in Pennsylvania.
Rounding out their recent activity, they sold a 96-bed skilled nursing facility in Florida for $12.9 million and arranged $11.9 million from a finance company for the acquisition. 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.