The team at Meridian Capital Group consisting of Ari Adlerstein, Ari Dobkin and Josh Simpson secured acquisition financing for a portfolio of three skilled nursing facilities in Virginia.
Located along the Chesapeake Bay coast in Warsaw, West Point and Hampton, the facilities feature 80, 60 and 130 beds, respectively. Built between 1975 and 2001, they were all previously owned and operated by Riverside Health System, a not-for-profit based in Newport News, Virginia. Hill Valley Healthcare, a national skilled nursing operator, was able to acquire the facilities with the help of a $21.7 million loan from a commercial bank, plus a $3.5 million A/R line and $500,000 of capex funds, all arranged by Meridian.
