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NEW YORK CITY — Meridian Capital Group, a debt broker based in New York, has arranged $135.5 million in loans for Continuum Healthcare to refinance a six-property portfolio of skilled nursing homes in New Jersey and Pennsylvania.
The four-year, bridge-to-HUD loans, provided by a balance sheet and mezzanine lender, features six months of interest-only payments.
The skilled nursing communities total 920 beds and include:
- The Wanaque Center for Nursing and Rehab, Haskell, N.J.
- Galloway Nursing and Rehab, Galloway, N.J.
- Barnegat Rehab and Nursing, Barnegat, N.J.
- The Health Center at Bloomingdale, Bloomingdale, N.J.
- Majestic Oak Nursing Home and Rehab, Warminster, Pa.
- Highland Manor Rehab and Nursing, Exeter, Pa.
Meridian’s Ari Adlerstein, Ari Dobkin and Josh Simpson negotiated the transaction.
Continuum Healthcare and its affiliate companies own and operate skilled nursing facilities and pediatric day care centers. Continuum also owns properties and leases them to independent operators.