SOUTHERN CALIFORNIA — Meridian Capital Group has arranged $39 million in bridge loans to refinance of a two-property, 355-bed skilled nursing portfolio in Southern California. The specific names and locations of the properties were not disclosed.
A national balance sheet lender is providing the capital for the three-year loans. The financing features interest-only payments for two years and an 85 percent loan-to-value ratio.
The borrower has owned both properties for more than 10 years.
Ari Adlerstein, Ari Dobkin and Josh Simpson, all based in Meridian’s New York City headquarters, negotiated the transaction.