Customized products for commercial real estate borrowersMEECROP's recent loan transactions and participationsMEECORP Application FormGlossary of common finance termsContact informationMEECORP's HomepageMEECORP Capital Markets - the Streetwise Commercial Lender
MEECORP Press Area

What They're Saying
Press Area

Contact MEECORP Press Office
Press Area
Press Releases
< Back to Press Releases Index
MEECORP Closes on $5.1 Million Mezzanine Revolving Line of Credit for
Sunrise Retirement Village; Acquisition Loan is First in A $75.0 Million Line of Credit
Extended to AREI

Fort Lee, New Jersey --  Meecorp Capital Markets, a privately owned commercial real estate lender and investment banker specializing in value-added commercial real estate projects, today announced the closure of a three-year $5.1 mezzanine revolving line of credit to Roseville Capital Resources, an affiliate of Redding, California-based Asset Real Estate  Investment Co. (AREI), for the purchase of Sunrise Retirement Village, a 176,923 square foot, 196-unit/bed assisted living and special care facility in Roseville, CA (

The investment banker bringing Meecorp and AREI together, P.J. Camp of New York City-based Shattuck Hammond Partners LLC, noted, "MeeCorp provided the mezzanine capital to our client in an efficient manner allowing them to make this important acquisition quickly in a competitive market."

The loan is the first in a $75.0 million line of credit series to be provided to AREI by Meecorp, and is the third successful loan between the companies. This specific loan carries a debt to equity ratio of nearly 60 percent and a combined loan to value approaching 87 percent.

"The assisted living facility sector of the seniors housing business is growing dramatically as the age demographic for assisted living (85 and over) is projected to double over the next five years", says Peary D. Wood, chief executive officer, AREI.  "In order to stay active in a very competitive acquisition market, creative capital structuring and reliable execution are essential. We have found both of those with Meecorp."
"The interest being generated in assisted living properties as baby boomers start to grey and plan for their December years is great, says Daniel Edrei, director at Meecorp Capital Markets.  "In 2005, GE did $1.4 billion in senior housing and plans to greatly exceed that number in '06. And guess what, Meecorp is one of the only players in the mezzanine market for senior living."
< Back to Press Releases Index
MEECORP The Streetwise Commercial Lender Address: 2115 Linwood Avenue - Suite 301- Fort Lee, New Jersey 07024

Home | About Us | Products | Closings | Apply | Investor Area | Press Area | Glossary | Contact Us | Site Map