Meridian Capital Group’s senior housing and healthcare team has reached $1.3 billion in transaction volume for a combination of skilled nursing, assisted living, independent living, and memory care facilities through 41 transactions across 22 states year-to-date in 2019.
Led by Managing Directors, Ari Adlerstein and Ari Dobkin, and Senior Vice President, Josh Simpson, Meridian’s senior housing and healthcare platform has closed more than $6 billion in financing since the team’s inception in 2011.
Recently, the team arranged $80 million in acquisition financing and a $7.5 million AR line for five skilled nursing facilities totaling 740 beds in Pennsylvania, $38.5 million in financing to acquire three skilled nursing facilities and refinance five additional facilities totaling 840 beds in Minnesota and Wisconsin, and $37 million in financing for the cash-out refinance of a 200-bed assisted living facility in New York.
Additionally, the trio sold two skilled nursing facilities totaling 305 beds in Virginia for $36.3 million and arranged $33.8 million in acquisition financing with a $2.5 million line of credit for the properties. They also sold a 150-bed skilled nursing facility in Virginia for $10.1 million and arranged $11.2 million in financing for the acquisition along with $2.7 million for capital expenditures.
The team also arranged $30 million in financing to acquire two skilled nursing facilities totaling 265 beds in Massachusetts, $22 million in financing to refinance six skilled nursing facilities comprised of 421 beds in Iowa, and $12 million in financing to refinance a 72-bed memory care facility in Arizona.
Rounding out their recent activity includes $8.3 million in construction financing to add a wing to a skilled nursing facility totaling 243 beds in New York and $7.6 million in financing to acquire an ALP facility consisting of 84 beds in New York.
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.
Founded in 1991, Meridian Capital Group is America’s most active deal maker and one of the nation’s leading commercial real estate finance and investment sales firms. In 2018, Meridian closed over $37 billion in financing through more than 3,500 transactions across more than 250 unique lenders and sold nearly $1 billion in commercial property. Since inception, the company has closed more than $300 billion in financing with the full complement of capital providers, encompassing local, regional and national banks, CMBS lenders, agency lenders, mortgage REITs, life insurance companies, credit unions and private equity funds. Meridian represents many of the world’s leading real estate investors and developers and the company’s expansive platform has specialized practices for a broad array of property types including office, retail, multifamily, hotel, mixed-use, industrial, healthcare, student housing and self-storage properties. Meridian is headquartered in New York City with offices in New Jersey, Maryland, Illinois, Ohio, Florida and California. www.meridiancapital.com