Trust In Arbor Realty Trust
It was revealed that Arbor Realty Trust funded the recent acquisition of a 440-bed skilled nursing facility in Syracuse, New York. Alexander Kaushansky of Arbor worked on behalf of the borrower, VestraCare, to arrange a $41.6 million bridge loan, with Evan Goldenberg of EBEX Holdings and Ari Dobkin of Meridian Capital Group also assisting in the financing. The facility had a history of operational challenges, but since being acquired in 2015 by a partnership between a New-Jersey based skilled nursing operator and an Illinois lawyer, occupancy had improved from 64% to 89% in just a year. Now, VestraCare, which is controlled by Long Island-based Edward Farbenblum, is taking over at a cost of... Read More »
Meridian Capital Group Closes Almost $200 Million In Three Financings
Meridian Capital Group made news this month, closing nearly $200 million in financings in three separate transactions. The largest, by far, was a $136 million acquisition loan that financed the purchase of 10 skilled nursing facilities located throughout Ohio. A balance sheet lender provided the loan, which came with a five-year term, 25-year amortization schedule and six months of interest only. And the team of Ari Adlerstein, Ari Dobkin, Josh Simpson and Corey Schwartz of Meridian worked with multiple lenders to close the deal within 52 days, and before the end-of-year deadline. The same team also secured a $42 million bridge-to-HUD loan, with a 36-month term, on behalf of a company... Read More »
Meridian Capital Group Nearing $1 Billion Senior Care Year
Meridian Capital Group is fast approaching the $1 billion mark for deals closed in the seniors housing and senior care market and just added four more transactions (and over $73 million) to its total. First, the firm sourced $8.3 million in equity capital on behalf of The Calida Group (a multifamily/seniors housing developer) for a 103-unit assisted living/memory care construction project in Fallbrook, California. Staying in California, Meridian also arranged a $25 million loan, provided by a balance sheet lender, for a 181-bed skilled nursing facility in Santa Rosa, California. The three-year loan, which includes a LIBOR-based interest rate and 12 months of interest-only payments,... Read More »Meridian Capital’s Latest Closing
The team at Meridian Capital Group popped over to the Bronx to close their latest transaction. Ari Adlerstein, Ari Dobkin, Josh Simpson and Isaac Lifshitz, all based in Meridian’s New York City headquarters, arranged a two-year $34 million loan to facilitate the acquisition of a 256-bed/120-unit assisted living community in the Bronx. The balance sheet loan, provided by a debt fund, is highly levered and will provide a large earn-out if the client achieves its operating goals. Built in the 1960s, the property was in the process of expanding its license, which was contingent on certain capital expenditure measures. Those plans went into effect post-closing, thanks to the team at... Read More »Schedule a demo
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