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SIMI VALLEY, CALIF. — Meridian Capital Group has arranged a $40 million loan to refinance Varenita of Simi Valley, an assisted living and memory care facility in Simi Valley.
The borrower is Griffin Living, which opened the property in April. Proceeds from the transaction repaid an existing construction loan and provided a return of capital to the owners while the community was still in lease-up.
A finance company provided the funds. Meridian’s Ari Adlerstein, Josh Simpson and Jesse Rauch negotiated the transaction.
Varenita of Simi Valley comprises 75 assisted living and 27 memory care units.