NEW YORK CITY — Meridian Capital Group’s seniors housing and healthcare team has recapitalized and arranged financing for an eight-property senior living portfolio in South Carolina, Tennessee and Kentucky.
Harrison Street entered into a joint venture with the developer, Dominion Senior Living, which will continue to operate the properties.
The portfolio consists of eight facilities comprising 296 independent living units, 172 assisted living units and 79 memory care units for a total of 547 units. The names of the properties and total amount of the financing were not disclosed.
Meridian’s Ari Adlerstein, Ari Dobkin, Josh Simpson, Matt Lesnik and David Gottlieb negotiated the transaction.
“The recapitalization of this portfolio highlights the continued demand for high-quality independent living, assisted living and memory care assets in today’s market. These communities are brand new, Class A facilities in strategic locations and offer the full continuum of care,” says Dustin Warner, a director at Harrison Street.
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