Following up on a nearly-$200 million month in January, Meridian Capital Group backed that up with another $80 million in closings in February, showing off their national reach too. The team of Ari Adlerstein and Ari Dobkin arranged all four financings, starting in Clovis, New Mexico, where the pair arranged an $11 million 35-year HUD loan to refinance an independent living/assisted living community. Located in rural New Mexico near the Texas border, the community also offers memory care and respite stay services.
Then, Messrs. Adlerstein and Dobkin arranged nearly $10 million in financing for a 224-bed senior living community in Bedford, Ohio (Cleveland MSA). The $9.75 million bridge-to-HUD loan came with a 24-month term and a floating rate. The Meridian magic continued in Washington, D.C., as a large 183-bed skilled nursing facility received a $28 million balance sheet loan, with a 36-month term, 30-year amortization schedule and a floating rate over 30-day LIBOR. Among the services provided at the SNF are physical, occupational, speech and respiratory rehab therapies, in addition to on-site physicians, dietitians and a pharmacy.
Finally, Messrs. Adlerstein and Dobkin were joined by Isaac Lifshitz and Josh Simpson to arrange acquisition financing on behalf of Berry Weiss of The W Group to purchase a 200-bed skilled nursing/assisted living facility in Staten Island, New York. The 24-month bridge loan featured a full term of interest-only payments and a 12-month extension option.