Meridian’s November Transaction Volume

Meridian Capital Group’s Senior Housing and Healthcare Platform, led by Ari Adlerstein and Josh Simpson, closed $176 million in transaction volume in November 2023.

The team recently arranged $48.7 million in financing from a commercial bank along with a $5 million A/R line for the acquisition of two skilled nursing facilities with 300 beds in New Jersey. They also arranged $12.1 million from a commercial bank to refinance a 45-bed assisted living community in New Jersey, and $10.5 million in financing from a commercial bank along with a $500,000 A/R line to refinance an 85-bed skilled nursing facility in Kansas. 

On the investment sales side, Meridian recently sold four Connecticut properties consisting of 253 skilled nursing beds and 50 independent living units for $33 million, or $108,900 per bed/unit, and arranged $30 million in financing from a commercial bank in addition to a $5 million A/R line for the acquisition. In California, the team sold a community totaling 68 assisted living and 37 memory care units for $17 million, or $161,900 per unit.

Rounding out their recent activity, the team arranged a $10 million A/R line from a finance company for five skilled nursing facilities with 436 beds and sold a 157-bed skilled nursing facility for $4 million, or $25,500 per bed, in Pennsylvania.