Meridian Capital Group arranged $40 million in financing for an assisted living and memory care community in Simi Valley, California. Griffin Living, a large privately held real estate developer, obtained the loan, which was provided by a finance company. Proceeds of the loan repaid an existing construction loan and provided a return of capital to the owners while the community was still in lease-up.
Meridian’s Ari Adlerstein, Josh Simpson and Jesse Rauch negotiated the transaction. The refinanced community is Varenita of Simi Valley, comprising 75 assisted living and 27 memory care units and equipped with resort-like amenities. Such amenities include multiple dining options, a fitness center, art studio, theater, and a spa.
