Meridian Capital Group Kicks Off 2024
Starting off 2024 on a positive note, Meridian Capital Group’s Senior Housing and Healthcare Platform, led by Ari Adlerstein and Josh Simpson, closed $375 million in transaction volume for 23 seniors housing and healthcare facilities in the first two months of the year. This activity follows more than $5 billion closed by the platform in 2023. The highlight was the closing of $260 million in debt from a commercial bank for the refinance of 12 skilled nursing facilities totaling 1,512 beds in the Northeast and $78.3 million in acquisition financing from a finance company and mezzanine lender for eight skilled nursing facilities comprising 705 beds in Minnesota. Meridian also arranged $13... Read More »
JLL Refinances Construction Debt on Minnesota Community
JLL Capital Markets arranged financing for Elk River Senior Living, a community built in 2018 comprising 108 units of independent living, assisted living and memory care in Elk River, Minnesota. The refinancing, facilitated through HUD, amounts to $18.7 million, or $173,000 per unit. Jeff Lepley and Alex Sheaffer worked to secure the financing. This financing consolidated five different debt obligations that were associated with the construction of the project. Hearth Development built the community and was the borrower. Marquis Senior Communities operates it. Read More »
Georgia IL/AL Community Changes Hands and Receives Financing
CBRE Capital Markets completed the sale and financing of an independent living and assisted living community in the Atlanta, Georgia MSA. The community, Arbor Terrace Peachtree City, comprises 146 units in Peachtree City and includes a host of amenities. The buyer was GEM Realty Capital, a Chicago-based real estate investment company with over $6 billion in assets under management. John Sweeny, Aron Will and Garrett Sacco represented the seller. Will and Michael Cregan also arranged an acquisition loan via CBRE’s Freddie Mac Optigo lending platform. Read More »
United Methodist Retirement Homes Secures Funding
Ziegler announced the pricing of a bond series closed for The United Methodist Retirement Homes, totaling $67.18 million in Series 2024A and 2024B bonds. The United Methodist Retirement Homes is a North Carolina not-for-profit that owns and operates three CCRCs in the Tarheel State. The three communities consist of a total of 690 independent living units, 28 memory care units, 112 assisted living units and 194 skilled nursing units, which ranks UMRH as the third largest not-for-profit senior living operator in North Carolina. Since 2000, UMRH has been managed by Life Care Services, the third largest operator of senior living communities in the nation. UMRH, with the assistance of LCS... Read More »
JLL Secures Acquisition Financing for Two AL/MC Communities
JLL Capital Markets arranged acquisition financing for two assisted living and memory care communities in Iowa on behalf of affiliates of Jaybird Senior Living. Both communities were managed by Jaybird prior to the acquisition. The communities, Vintage Hills of Indianola and Country Meadow Place, total 118 units combined. Vintage Hills comprises 62 units in Indianola, Iowa, and Country Meadow Place is in Mason City, Iowa, with 56 units. Jeff Lepley and Alex Sheaffer of JLL handled the transaction, securing two loans totaling $17.87 million, or $151,000 per unit, representing around 81% of the total purchase price, putting the purchase price above $22.0 million, or $186,000 per... Read More »Schedule a demo
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