Meridian Capital Group has had a productive start to the year, including an especially busy last few weeks. We imagine they gained some knowledge from closing deals during that period, which could not have been straightforward. So far in 2020, the group has arranged $563 million in financing for skilled nursing, assisted living and memory care communities, and in the last three weeks they closed $301 million in financings across seven states.
Working through a commercial bank, the team of Ari Adlerstein, Ari Dobkin and Josh Simpson first arranged a $34 million refinance of four memory care communities totaling 264 units in Florida, New York, Ohio and Arizona. Also, in Florida, they arranged $52.5 million in financing, again from a commercial bank, and an $11 million A/R line for five skilled nursing facilities totaling 458 beds. A 200-bed SNF in Indiana received a $15 million bridge loan and a 287-bed SNF in New Jersey got $52.2 million in bridge debt from a bank, plus a $2.5 million A/R line.
There was also an acquisition financing provided by a finance company for a portfolio of three SNFs in Maryland totaling 460 beds. A $5 million A/R line was included in that deal. Outside of skilled nursing, the team helped a 181-bed assisted living community operating under the ALP program in New York receive $22.6 million in financing and a $1 million line of credit for capex. And finally, Meridian closed $28 million in debt to refinance an acute care hospital. Totaling 155 beds, the hospital comprises 85 acute care, 10 ICU and 60 behavioral health beds, and also received an $11.5 million A/R line.
