Florida & Gulf Coast + Central Florida + Healthcare | May 17, 2021

Meridian Lines Up Construction Financing on Punta Gorda Assisted Living

Meridian Capital Group arranged $8.1 million in construction financing for Hampton Manor of Punta Gorda, an assisted living and memory care facility in Punta Gorda, FL, on behalf of Moneil Senior Living.

The four-year loan, provided by a balance sheet lender, features a floating rate over Prime and full-term interest-only payments. The transaction was negotiated by SVP Peter Martz and Mark Krupenia.

Located at 10211 Tamiami Trail in Punta Gorda, FL, Hampton Manor of Punta Gorda will consist of 91 assisted living and memory beds when complete.

“Getting lenders excited about construction, especially in conjunction with senior living, was a huge challenge at the height of COVID,” said Krupenia. “Meridian was able to identify a lender who recognized the strength of the sponsor and their strong track record in executing similar deals, which resulted in terms that exceeded our clients’ expectations.”

Connect

Inside The Story

Meridian Capital

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

Order Reprints