Meridian-sponsored partnerships have invested in virtually every real estate asset class – including senior living, multi-family, retail shopping centers, for-sale condominiums and town homes, as well as office buildings.
Meridian has acquired or developed assets in many regions of the United States including Texas, Massachusetts, Arizona, Georgia, Missouri, Washington, California, Alabama, Virginia, Oklahoma, Illinois, Florida, North Carolina and South Carolina. Working with our investment partners, we’ve invested in excess of $500 million of equity into our sponsored real estate ventures with a gross valuation in excess of $2.5 billion since Meridian opened its doors.
1994 – 1999 Investments in:
14 multi-family programs
2 office/retail program
Meridian was formed in 1994 by Curt Boisfontaine based on a simple investment concepts; source profitable, opportunistic investments, evaluate their risks, and in turn, provide proper financial structuring that delivers superior returns and appropriately addresses risk. Meridian’s initial financial backing was provided by affiliates of Salomon Brothers, Inc. and a group of private investors, with the primary backing of John Albers who at the time was the Chief Executive Officer of the Dr. Pepper Company. Over the years we have been fortunate to have had the opportunity to invest with Merrill Lynch, GE Capital, Paine Webber as well as real estate focused private equity firms. We have also successfully completed 17 Reg-D private placements, all of which have gone “full cycle”. The majority of this investment activity was focused on traditional asset classes such as multifamily and retail, employing the same simple investment concept of opportunistic investing and risk mitigation.
2000 – 2005 Investments in:
4 multi-family programs
2 office/retail programs
5 healthcare programs
3 Residential programs/future development
Our entry into the seniors housing and healthcare space began in 2000 with a co-investment in the recapitalization of Omega Healthcare Investors which at the time owned approximately 250 skilled nursing facilities. The investment was led by a Dallas based private equity firm and this investment was indeed the catalyst for the first independent Meridian-sponsored investment in seniors housing as the Meridian sponsored group provided the equity for the ground-up development of three skilled nursing facilities in Texas. Since that time, we have acquired and sold numerous assisted living and independent living assets and developed 18 skilled nursing facilities through Meridian sponsored investment partnerships.
2006 – 2012 Investments in:
7 healthcare programs
Commencement of Alzheimer’s and Memory Care programs
We recently commenced development of what is planned to be the first of a significant number of facilities dedicated to providing care to Alzheimer’s and memory impaired residents.
Meridian is focused on senior housing and healthcare related real estate investment opportunities. We have led the development of approximately 20 skilled nursing facilities and currently operate 10 such facilities and one assisted living facility, all located in Texas. We have plans to develop additional skilled nursing facilities and have commenced development of a series of facilities dedicated to providing care to Alzheimer’s and memory impaired residents in Texas and surrounding states. Further, we intend to expand our reach into the southeastern United States in the near future.
Our business is relationship driven and our investment model requires teamwork and accountability. Our overall objective is to create state of the art living environments, deliver the highest quality of care to our residents and structure successful investments for our financial and operating partners.
The vast majority of our investment programs have gone full-cycle with positive financial outcomes. Today, we currently manage an investment portfolio with an aggregate value of approximately $200 million with new devcelopments projects with a projected value of $150 million underway.
Meridian’s near term goal is to continue to invest in the seniors housing and healthcare space with forward looking elements of design, technology and quality to enrich the lives of our residents.