Harborview Capital Partners Announced Several Financings
Harborview Capital Partners announced a series of recent closings for several clients across the country. First, the firm worked with a national lending partner to arrange an $81 million loan to refinance a portfolio of four skilled nursing facilities and one assisted living community in Maryland. The loan featured aggressive LIBOR-based fixed interest rate and a four-year term with limited recourse. It resulted in a cash-out in excess of $20 million for the New Jersey-based owner. Ephraim Kutner, Jonathan Kutner and Eli Kutner originated the transaction. Then, Harborview arranged for the refinance of two senior care properties in Queens, New York. The 200-bed skilled nursing facility... Read More »
Meridian Capital Group Closes Several Financings and a Sale
The team at Meridian Capital Group has been hard at work closing a number of transactions in the last few weeks. They have clearly gained some experience on how to get deals done in this COVID-19 environment, which we recently highlighted in a Q&A with Ari Adlerstein, Ari Dobkin and Josh Simpson. For a total of 13 skilled nursing facilities in four states, the team closed $165 million in transaction volume since the end of March. The largest financing was a $39 million non-recourse loan, with a 10-year term and aggressive pricing from a commercial bank, to refinance two skilled nursing facilities and 240 total beds in Maryland. The Meridian trio also refinanced five skilled nursing... Read More »
Navigating Today’s Lending and M&A Markets: A Q&A with Meridian Capital Group
Seniors housing and care M&A has slowed down considerably, which will not surprise anyone, and an abundance of caution on the buyers’ part has had a lot to do with that. But perhaps more so has been the reaction of the lenders, many of whom have taken a wait-and-see approach before lending millions to support acquisitions, new developments and even refinances. However, deals are still getting done, with even a mini M&A boom at the end of March into early April, so a number of lenders had to have signed off on those deals fully aware of the economic and practical realities of the current crisis. So how have these lenders adapted to the current environment?... Read More »
Meridian Capital Group’s Impressive March Activity
Meridian Capital Group has had a productive start to the year, including an especially busy last few weeks. We imagine they gained some knowledge from closing deals during that period, which could not have been straightforward. So far in 2020, the group has arranged $563 million in financing for skilled nursing, assisted living and memory care communities, and in the last three weeks they closed $301 million in financings across seven states. Working through a commercial bank, the team of Ari Adlerstein, Ari Dobkin and Josh Simpson first arranged a $34 million refinance of four memory care communities totaling 264 units in Florida, New York, Ohio and Arizona. Also, in Florida, they... Read More »