Meridian Capital Group Arranges $26.2 Million in Balance Sheet and Mezzanine Acquisition Financing for Purchase of CountrySide Lakes Assisted Living Facility in Port Orange, FL

Countryside Lakes Apartments, 941 Village Trail, Port Orange, FL

Ari Adlerstein

New York, NY, Jan. 17, 2017 – Meridian Capital Group, America’s most active debt broker, arranged $26.2 million in balance sheet and mezzanine acquisition financing for the purchase of an assisted living facility located in Port Orange, FL on behalf of Shepherd Health, a Florida-based real estate development company and senior housing operator. 

The five-year loan features full-term interest-only payments for the mezzanine loan. 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.

CountrySide Lakes is a 146-unit, 160,000 square-foot assisted living facility, located at 941 Village Trail in Port Orange. The facility has well-maintained landscaped grounds spanning just under seven acres, and newly refurbished rooms and common areas.

Amenities include a heated swimming pool, shuffle board, billiards room, fitness center, a beauty salon, barber shop and nature trails. Each unit is equipped with a full handicapped accessible kitchen and bathroom and a screened-in balcony or porch. Port Orange is situated near U.S. Route 1 and Interstate 95, making Countryside Lakes easily accessible by road travel.

Ari Dobkin

“Meridian was able to lend comfort to the partner banks by successfully demonstrating the strength of the asset, the borrower’s management team, and the borrower’s business potential – including some potentially industry-changing ideas,” explained Mr. Adlerstein. “We delivered a financing solution that met all our client’s expectations,” he added.

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

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

Jonathan Stern

Meridian Capital Group

212/972-3600

jstern@meridiancapital.com

Meridian Capital Group Arranges $14.4 Million in Acquisition Financing for Carrollwood Palms Multifamily Property in Tampa, FL

  

Carrollwood Palms Apartments, 4302 Gunn Highway, Tampa, FL

Carlsbad, CA, Jan. 17, 2017 – Meridian Capital Group, America’s most active debt broker, negotiated $14.4 million in agency financing for the acquisition of Carrollwood Palms multifamily property located in Tampa, FL on behalf of Blue Rock Premier.

The seven-year, non-recourse loan, features a floating interest rate and two years of interest-only payments, and was negotiated by Meridian Managing Director, Seth Grossman and Vice President, Sarah Kuebler, who are both based in the company’s Carlsbad, CA office.

Sarah Kuebler

“Meridian’s extensive multifamily experience in the market helped to identify the best financing option for our client,” explained Mr. Grossman. “The lender recognized the strength of the sponsorship, and provided acquisition financing that will allow the borrower to successfully execute their renovation and business plan,” he added.

Carrollwood Palms, located at 4302 Gunn Highway in Tampa, is a two-story, 204-unit multifamily property, consisting of one- and two- bedroom apartments. Each unit features a fully equipped kitchen, a patio or a balcony and a fire place.

Seth Grossman

Community amenities include a swimming pool, clubhouse, fitness center with a sauna, tennis courts, volleyball courts, a business center and a billiard room.

Carrollwood Palms provides direct access to major transportation corridors, including Interstate 75, Veterans Expressway and Suncoast Parkway. 

Tenants enjoy close proximity to the Tampa International Airport and Downtown Tampa, which offers a variety of restaurants, shops and museums.

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. www.meridiancapital.com

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

Jonathan Stern

Meridian Capital Group

212/972-3600

jstern@meridiancapital.com