Meridian Capital Group has hit a rich vein of activity, closing more than $300 million in transaction volume in the last month. The deals were arranged for 26 skilled nursing and assisted living properties across six states, bringing the seniors housing and healthcare team’s year-to-date total to more than $1 billion in financing.
There were a couple of acquisition loans, starting with $44 million arranged for the purchase of two skilled nursing facilities and 272 beds in Maryland. For the same borrower, Meridian also closed a $31 million loan and an $8.25 million A/R line to acquire three additional skilled nursing facilities and 266 beds. One finance company provided both loans, and the A/R line was structured for all five assets. Not only that, but the team of Ari Adlerstein, Ari Dobkin and Josh Simpson arranged the $32.5 million, or $122,200 per bed, sale for the latter three properties.
There was another acquisition loan totaling $11 million that was provided by a finance company for two skilled nursing facilities and 269 total beds in Missouri. And finally, Meridian secured $51.5 million in acquisition financing from a commercial bank and mezzanine lender, along with a $6 million A/R line, for four skilled nursing facilities and 460 beds in Florida.
Moving on to the refinances, Meridian arranged $81.3 million in HUD financing for seven facilities in Ohio, including 1,008 skilled nursing and 54 assisted living beds. The Meridian team also refinanced a 49-unit assisted living community (98 beds) in Arizona with a $23.6 million loan provided by a commercial bank. Lastly, another commercial bank provided an A/R line totaling $1.5 million for seven skilled nursing facilities and a combined 235 beds in California.