We’ve said before that Meridian Capital Group is having quite a year, but the firm just closed another $113 million in transaction volume for a total of eight senior care and healthcare properties in five states. So, they have no plans for a summer vacation, apparently. Ari Adlerstein, Ari Dobkin, Josh Simpson, Matt Lesnik, Jesse Rauch, David Gottlieb, Jacob Scott and Rafi Sod negotiated the transactions and have reached $2.8 billion in deals closed to date in 2021.
The team first arranged $37 million in senior and mezzanine financing for the construction of a senior living community in South Carolina that will include 54 assisted living, 48 independent living and 48 memory care units. That results in nearly $250,000 per unit in debt, meaning the construction cost cannot be much higher than that. There was another construction loan totaling $25.6 million, plus a $3.5 million A/R line, for a 140-bed addiction treatment center and 44 psychiatric beds in Ohio.
Meridian next arranged a $34.6 million loan from a finance company to refinance three skilled nursing facilities totaling 276 beds in Indiana. There was also an $8 million acquisition loan from a commercial bank, in addition to a $1.5 million A/R line, for a 123-bed skilled nursing facility in Massachusetts. Finally, Meridian secured a $3 million A/R line of credit from a commercial bank for a 120-bed skilled nursing facility in West Virginia.
