Peace Capital and its affiliated operator Complete Care Management acquired a senior care portfolio number some 930 beds in Ocean County, New Jersey, for approximately $169 million, or about $181,700 per bed. The financing for the deal came from a couple different sources. As part of its effort to deploy up to $1 billion into senior living and healthcare properties, New York City-based private equity firm Northwind Group provided a $26 million mezzanine loan for the acquisition. Meanwhile, KeyBank Real Estate Capital underwrote and closed the $131 million in senior financing and expects to lead the refinance of the portfolio with HUD debt.
Jonathan Slusher and Ran Eliasaf led the mezzanine transaction for Northwind, and Henry Alonso led the senior loan closing for KeyBank. This marks the third collaboration between KeyBank and Northwind, and the first in which Northwind acted as a mezzanine lender. The entire financing was arranged by Ari Dobkin and Ari Adlerstein of Meridian Capital Group.
