Meridian Capital Group Arranges $8.1M Loan For Hampton Manor Of Punta Gorda

Located at 10211 Tamiami Trail in Punta Gorda, FL, the property involved in the transaction is Hampton Manor of Punta Gorda, an assisted living and memory care facility. The construction financing for this senior housing asset was arranged by Meridian Capital Group for $8.1 million. The loan, provided by an unknown correspondent life insurance company, features a floating rate over Prime and full-term interest-only payments. Upon completion, Hampton Manor of Punta Gorda will offer 91 assisted living and memory beds.

Summary of transaction details:

• Property Type: Senior Housing
• Transaction Amount: $8,100,000.00
• Market: Punta Gorda
• Borrower's Rep: Peter Martz (Meridian Capital Group)
• Lender: Unknown Correspondent life insurance company

For this deal, SVP Peter Martz and Mark Krupenia negotiated the four-year loan for Hampton Manor of Punta Gorda. Against the challenges faced during COVID, Meridian was successful in securing financing by showcasing the strength of the sponsor and their proven track record in similar deals. The lender recognized these qualities, resulting in terms that exceeded the clients' expectations.