The properties, consisting of 97 assisted living and 56 memory care beds, are located throughout the Minneapolis–St. Paul metropolitan area, and are managed by an experienced regional seniors housing provider. The communities have benefited from consistent rate growth in recent years.
Structured as a 24-month, interest-only bridge loan with two six-month extension options, the financing enables the borrower to refinance existing bond debt and positions the portfolio for permanent HUD financing.
“Greystone’s bridge-to-HUD platform helps create a smooth transition from short-term refinancing to long-term financing,” said Mr. Young. “We are pleased to support this portfolio with a solution that satisfies an immediate need while we work to secure permanent HUD financing for our client.”
About Greystone
Greystone is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greystone.com.
PRESS CONTACT:
Fran Del Valle
fran@influencecentral.com
