• PGIM Divests Two Arizona Assets

    JLL’s Seniors Housing Capital Markets team completed the sale and financing of three assets across two separate deals. First, it announced that it sold The Watermark at Morrison Ranch in Gilbert, Arizona, and Acoya Mesa in Mesa, Arizona. Both communities were stabilized at the time of the deal. JLL marketed the portfolio on behalf of the seller,... Read More »
  • Underperforming Asset Trades in California

    A seniors housing community in Vacaville, California, sold with the help of Nick Stahler and Chad Mundy of The Knapp-Stahler Group at Marcus & Millichap. At the time of LOI, the asset was underperforming and financially strained. Built in 2004, it features more than 80 assisted living and memory care units and is licensed for over 90 beds on... Read More »
  • Communities Sell in California and Missouri

    Haven Senior Investments closed a deal right before year-end and announced a couple of others from the preceding months. First, an assisted living community was facing a hard closing deadline, with a 30-day escrow and commercial loan that would have been canceled if the transaction did not close by December 31. Rebecca Van Wieren and Scott Fuller... Read More »
  • Cambridge Provides HUD Construction Financing

    Cambridge Realty Capital provided $6.5 million in construction financing for a 20-bed memory care addition to The Pointe at Pontiac, an existing 60-bed supportive living facility in Pontiac, Illinois. The borrower is an Illinois limited liability company. The financing is insured by HUD under its Section 241(a) program and will be used to fund... Read More »
  • SNF Portfolio Receives Bridge Financing

    MONTICELLOAM, along with firm affiliates, provided $60 million in bridge financing to a five-facility skilled nursing portfolio in Illinois. The two-year loan was originated by Karina Davydov. The returning healthcare client, who operates over a dozen skilled nursing facilities in Illinois, will use the loan proceeds to acquire the portfolio,... Read More »
Meridian Closes Slew of Transactions to End 2021

Meridian Closes Slew of Transactions to End 2021

It was a banner year for Meridian Capital Group’s Senior Housing and Healthcare Team, which closed more than $5.5 billion in transaction volume in 2021, including $918 million in transactions for 56 seniors housing and healthcare facilities in 16 states over the last month to end the year.   These transactions were negotiated by Senior Managing Directors and Co-Heads of Meridian’s Senior Housing and Healthcare Team, Ari Adlerstein and Ari Dobkin; Managing Director, Josh Simpson; Vice Presidents, Matt Lesnik, Jesse Rauch, and Rafi Sod; and Senior Associates, Yuval Hananya, David Gottlieb and Jacob Scott.  The team’s December transactions include several refinances, including a $130... Read More »
Meridian Closes Slew of Transactions to End 2021

NewPoint Acquires HHC Finance’s HUD Businesses

NewPoint Real Estate Capital LLC, a joint venture between Meridian Capital Group and Barings, announced that it has acquired certain assets of Housing & Healthcare Finance, including its FHA multifamily and healthcare origination business and its loan servicing portfolio. This deal augments NewPoint’s existing HUD lending services and also its healthcare and seniors housing financing capabilities. For HHC Finance, the firm gains the backing of NewPoint’s scale and its own range of services offered, now including a multifamily bridge lending program which was launched earlier this month to provide loans of $5 million to $50 million with... Read More »
Meridian Closes Slew of Transactions to End 2021

Meridian Capital Group Announces Latest Activity

Another month, another slew of closings from Meridian Capital Group. The Senior Housing and Healthcare team including Ari Adlerstein, Ari Dobkin, Josh Simpson, Matt Lesnik, Jesse Rauch, Rafi Sod, Yuval Hananya, David Gottlieb, Jacob Scott and Brett Hebert negotiated the transactions, which included several refinances, acquisition loans and two property sales.  The targets in the sales included a 103-unit assisted living/memory care community in Missouri that sold for $10.2 million, or $99,000 per unit, and a 90-unit AL/MC community in Utah that sold for $6.5 million, or $72,200 per unit. Meridian’s Avi Begun arranged acquisition financing for both properties, with an $8.3 million loan from... Read More »
Meridian Capital Group Closes a Strong September

Meridian Capital Group Closes a Strong September

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... Read More »
Meridian Capital Group Reports Busy July

Meridian Capital Group Reports Busy July

In the month of July, Meridian Capital Group’s Senior Housing and Healthcare team has closed $863.4 million in transaction volume for a combined 60 skilled nursing and assisted living properties in 13 states. That brings the year-to-date total to $3.6 billion in volume, or already surpassing the $3.2 billion in transactions closed in 2020. Well done to Ari Adlerstein, Ari Dobkin, Josh Simpson, Matt Lesnik, Jesse Rauch, David Gottlieb and Jacob Scott who negotiated the deals.  Meridian’s largest deal of the month was a $324.7 million acquisition financing provided by a commercial bank and mezzanine lender for 21 skilled nursing facilities with 2,643 total beds in New Jersey,... Read More »