Meridian Capital Group’s mortgage brokerage business has been red-hot so far this year, but its investment sales side has been quite robust as well. All told, the team at Meridian has closed nearly $2.8 billion in business, so far in 2019. Not too shabby. Most recently, Ari Adlerstein, Ari Dobkin and Josh Simpson announced two portfolio sales closed for skilled nursing clients in New England. The first transaction saw six skilled nursing facilities and 536 total beds sold to an institutional buyer. A regional operator is taking over the operations under a triple-net lease. Meridian also arranged a balance sheet loan with a national lender, plus a separate A/R line of credit, to fund the purchase.
Then, the Meridian team sold two skilled nursing facilities with 248 total beds in New England to a private buyer, also structuring a balance sheet loan and a working capital line of credit to round out the transaction. All eight facilities sold for a combined $67.5 million, or $86,100 per bed, with $56.8 million in total financing closed as well.