Meridian Capital Group, LLC arranged $16.2 million in CMBS financing for the Bentley Commons at Keene senior living facility on behalf of Patrick Scanlan of JKS Keene LLC. The 10-year CMBS loan features a competitive fixed-rated of 4.75% and one-year of interest-only payments. This transaction was originated and negotiated by Meridian Capital Group associate Michael MacNeil, managing director Ari Adlerstein, and vice president Josh Simpson, all of whom are based in the company's NYC headquarters.
Bentley Commons at Keene totals 109 units and is located at 197 Water St. This senior living facility is a state-of-the-art community that offers a wide variety of amenities and supportive services designed to maximize independence and encourage a healthy and active lifestyle for its residents. "Meridian leveraged our existing relationship with a top-tier CMBS lender to maximize proceeds and provide favorable loan terms, including one year of interest-only payments, which enhances the short-term cash flow of the property," said MacNeil. "This deal illustrates Meridian's capability to execute at the highest level in secondary markets, and that CMBS lenders are now competing heavily for senior living facilities."
Founded in 1991, Meridian Capital Group, LLC is one of the nation's largest commercial real estate finance and advisory firms. Meridian is headquartered in New York with offices in New Jersey, Maryland, Illinois, Florida and California. Working with a broad array of capital providers, Meridian arranges financing for transactions ranging from $1 million to more than $500 million for multifamily, co-op, office, retail, hotel, mixed-use, industrial, healthcare, student housing, self-storage and construction properties.