Meridian Capital Group Arranges $60M in Financing for National Memory Care Portfolio

NEW YORK CITY — New York-based Meridian Capital Group’s seniors housing and healthcare team has arranged $60 million in financing for two portfolios of memory care assets across Ohio, Georgia, South Carolina, Colorado, California and Tennessee.

Ari Adlerstein, Ari Dobkin and Josh Simpson of Meridian negotiated the two transactions, which will refinance existing debt on the properties.

In the first transaction, Meridian arranged $27.5 million for four memory care facilities totaling 264 beds in Ohio and Georgia. The five-year loan features a fixed rate and limited personal guarantees.

In the second transaction, the team arranged a $32.5 million loan for memory care facilities totaling 264 beds in South Carolina, Colorado, California, and Tennessee. A balance sheet lender provided the five-year, non-recourse loan with a fixed rate.

Further details on the properties, locations and borrowers were not disclosed.