Meridian Capital Group’s Senior Housing and Healthcare team announced another $219 million in transaction volume closed across eight skilled nursing, assisted living, independent living and memory care properties in seven states in September. The team that negotiated these deals included Ari Adlerstein, Ari Dobkin, Josh Simpson, Matt Lesnik, Jesse Rauch, Rafi Sod, David Gottlieb and Jacob Scott.
There were a few acquisition loans, the largest being a $68 million loan from a commercial bank plus a $2.5 million A/R line for a CCRC in Michigan totaling 89 skilled nursing, 65 assisted living, 852 independent living and 31 memory care beds. Meridian also arranged the LP equity for the property. Next, a 180-bed SNF in New Jersey sold thanks to $36.2 million in financing provided by a commercial bank and mezzanine lender.
Commercial banks also provided $7.9 million in financing plus an $850,000 A/R line for a facility in Kansas totaling 70 skilled nursing and 24 assisted living beds, and $13 million in financing for a 72-bed AL/MC community in Oregon, the latter of which was arranged by Meridian’s Avi Begun. Meanwhile, a finance company provided $10.4 million in acquisition financing and a $1.5 million A/R line for a 132-bed SNF in South Carolina, and $23 million to refinance a 145-bed AL community in Florida.
The team branched out a bit, arranging $15 million in financing from a commercial bank in addition to a $1.5 million A/R line for a 91-bed psychiatric residential treatment facility in Nevada. Finally, Avi Begun handled the sale of a senior care facility in Michigan for $10.6 million, or $58,200 per bed. There are 142 skilled nursing and 40 assisted living beds, and to fund the facility’s acquisition, Mr. Begun also arranged $8.8 million in financing from a commercial bank, plus a $3.5 million A/R line. These transactions bring the team’s total closings for the year to more than $4 billion.
