PENNSAUKEN, N.J. — Meridian Capital Group has arranged $20 million in financing for Kaplan Development Group to purchase Bentley Senior Living, an independent living, assisted living and memory care community in Pennsauken, directly across the Delaware River from Philadelphia.
The 132,059-square-foot property includes 100 independent living units, 43 assisted living units and 18 memory care units.
The financing includes senior and mezzanine portions and 18 months of interest-only payments. Ari Adlerstein, Ari Dobkin and Josh Simpson from Meridian’s New York City headquarters negotiated the loans.
Kaplan Development Group owns and operates 17 seniors housing communities in eight states along the Eastern Seaboard, for a total of more than 1,500 units.