Meridian Capital Group

Meridian Closes $250 Million in Two-Month Transaction Volume

March 13, 2023

Meridian Capital Group’s Senior Housing and Healthcare Team closed more than $250 million in transaction volume in the last two months, on top of a productive 2022 that saw the team close more than $6 billion in transactions. The latest deals were negotiated by Meridian’s Senior Housing and Healthcare Platform, led by Ari Adlerstein and Josh Simpson.

Included in the haul was a $60 million loan from a commercial bank in addition to a $3.75 million A/R line to refinance two skilled nursing facilities totaling 366 beds in Virginia, a $51.5 million loan along with a $2.5 million A/R line from a commercial bank and mezzanine lender to refinance four skilled nursing facilities comprised of 482 beds in Texas, and a $11.5 million loan from a commercial bank to refinance an 80-bed assisted living community in Pennsylvania.

They also sold a 95-unit, Class-A active adult community in Nebraska for $20.3 million, or $213,700 per unit, and arranged $14.2 million in agency financing for the acquisition. The sale and financing were negotiated by Meridian’s Avi Begun. Continuing on the acquisition side, the team arranged $43.8 million in financing from a commercial bank for a Colorado community comprised of 98 assisted living and 19 independent living units; a $12.3 million loan from a commercial bank in addition to a $3 million A/R line for a 120-bed skilled nursing facility in Texas; a $10.4 million loan along with a $2 million A/R line from a commercial bank and mezzanine lender for a 56-bed skilled nursing facility in Florida; and a $7.8 million loan from a commercial bank in addition to a $1.25 million A/R line for a skilled nursing facility in Ohio. Rounding out their recent activity, the team closed a $6 million A/R line for 21 facilities in Iowa.

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