Friday, March 3, 2017

Meridian Capital Group Arranges $23.9 Million in Construction Financing for Senior Housing Complex in Delray Beach, FL

Ari Adlerstein

New York, NY – Meridian Capital Group, America’s most active debt broker, arranged $23.9 million in construction financing for the development of a senior housing community located in Delray Beach, FL.

The five-year loan, provided by a regional balance sheet lender, features a floating rate of 3.25% over the 30-day LIBOR rate and three years of interest-only payments.

This transaction was negotiated by Meridian Managing Directors, Ari Adlerstein and Ari Dobkin and Vice President, Josh Simpson, who are all based in the company’s New York City headquarters.

The community is planned to be a three-story, 118-unit senior housing development, located in Delray Beach. Some of the property features will include an on-site restaurant, bar and café, a hair and nail salon, a surround sound theater, a fitness center and Tai Chi studio.

Future residents of the community will enjoy close proximity to the Interstate 95 highway and Swinton Avenue. The property is a 15-minute drive from Delray Beach and East Atlantic Avenue, which offers visitors a variety of cafes, art galleries, boutiques and restaurants.

Ari Dobkin
Delray Beach has a settled community and is a high-demand area for retirees, as it offers top medical facilities an

d has a long-standing reputation for its golf and tennis clubs,” said Mr. Adlerstein. “We leveraged our strong relationship with a regional lender to successfully fund this exceptional project, which will have all the property and community amenities a senior resident could wish for,” he added.

Founded in 1991, Meridian Capital Group is America’s most active debt broker and one of the nation’s leading commercial real estate finance advisory firms. In 2016, Meridian closed $35 billion in transaction volume.

Since inception, the company has closed more than $270 billion in financing with the full complement of capital providers, encompassing local, regional and national banks, CMBS lenders, agency lenders, mortgage REITs, life insurance companies, credit unions and private equity funds.

Meridian arranges financing for many of the world’s leading real estate investors and developers and the company’s expansive platform has specialized practices for a broad array of property types including office, retail, multifamily, hotel, mixed-use, industrial, healthcare, student housing and self-storage properties.

Meridian is headquartered in New York City with offices in New Jersey, Maryland, Illinois, Ohio, Florida and California.

For a complete copy of the company’s news release, please contact:

Jonathan Stern
Meridian Capital Group

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