The first quarter is in the books, and Meridian Capital Group’s Senior Housing and Healthcare platform, led by Ari Adlerstein and Josh Simpson, closed $575 million in transaction volume in the first three months of the year, following more than $5 billion closed by the platform in 2023.
Most recently, the team sold six skilled nursing facilities comprising 517 beds in Indiana for $37.5 million, or $72,500 per bed, and arranged $34.8 million in financing from a finance company along with an $8.5 million A/R line for the acquisition.
They also arranged $29.5 million in financing from a commercial bank to refinance a New Jersey property totaling 85 assisted living and 34 memory care units; $28.5 million in financing from a life insurance company to refinance two communities comprising 185 assisted living and 80 memory care units in Florida (handled by Avi Begun); and $23.5 million in financing from a commercial bank and mezzanine lender to refinance four communities in Tennessee with 277 memory care units.
Rounding out their recent activity, Avi Begun arranged $22 million in acquisition financing from a commercial bank for two Michigan properties consisting of 122 assisted living and 84 memory care units, and $10.5 million in acquisition financing from a commercial bank for a Tennessee property comprised of 81 skilled nursing beds. On to Q2!
