Meridian Secures $106M for Skilled Nursing Facilities

Located in Florida, New Jersey, Connecticut and Massachusetts, the eight properties obtained financing that included acquisition, bridge and mezzanine loans.

Meridian Capital Group’s senior housing and health-care team has provided $106.1 million in financing for eight skilled nursing facilities in Florida, New Jersey, Connecticut and Massachusetts. The various debt structures include acquisition loans and refinancings for a total of 946 beds.

A 230-bed asset in Miami Beach received $42.4 million in acquisition financing along with a line of credit. A team from the company’s New York headquarters negotiated the package. Meridian provided acquisition loans for three more facilities—$9.2 million for a 106-bed skilled nursing facility in Baltimore and $5.4 million for two properties comprising 120 licensed beds in DeLand, Fla.

Meridian’s team also secured several refinancing loans: $17.4 million for a 130-bed skilled nursing facility in Berkeley Heights, N.J.; $21.5 million for two assets totaling 240 beds in Norwalk and Bucks Hill, Conn., respectively; and $10.2 million for a 120-bed property in Fort Myers, Fla.

Managing Directors Ari Adlerstein and Ari Dobkin, along with Senior Vice President Josh Simpson, arranged the deals. In February, the same team, along with Vice President Isaac Lifshitz, structured an acquisition loan for an assisted living property in Staten Island, N.Y.