CHICAGO — Meridian Capital Group has arranged $48 million in balance sheet financing for the purchase of a 609-bed skilled nursing home portfolio in Chicago.
The three properties sold were the 143-bed Brightview Healthcare and Rehabilitation Centre, the 156-bed Mayfield Healthcare and Rehabilitation Centre and the 310-bed Mid America Healthcare and Rehabilitation Centre. The buyer and seller were not disclosed, though Meridian referred to the buyer as “a well-known sponsor.”
The three-year loan, provided by a national balance sheet lender and representing 75 percent of the purchase price, features a fixed rate of 5.5 percent and one year of interest-only payments. The property was sold as a value-add opportunity.
The Meridian team of Ari Adlerstein, Ari Dobkin and Josh Simpson negotiated the financing.