Greystone’s $40,500,000 interest-only non-recourse bridge loan carries a 24-month term with two six-month extension options, enabling the borrower to complete the acquisition and fund capital improvements while Greystone works to secure permanent HUD financing later this year.
“Our bridge-to-HUD program is one of the many ways we help clients in the skilled nursing space get the most out of their portfolio while providing quality housing to their residents,” said Mr. Young. “We work tirelessly—especially during uncertain economic cycles—to deliver creative solutions that achieve our client’s vision and are more attractive than competitor offerings.”
“Greystone provided a best-in-class solution for this project,” said Mr. Goodman.“Our firm ran an extensive capital markets process, and the structure Greystone ultimately provided was superior to the competition.We appreciate their partnership and look forward to more opportunities to collaborate in the future.”
Greystone’s Ben Rubin, Ryan Harkins, Parker Nielson and Liam Gallagher assisted on this transaction.
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.
About G Capital
G Capital, headquartered in Carmel CA,is a capital advisory firm that sources and structures debt and equity for operators and investors in the healthcare real estate sector nationwide.
www.gcapitalmarkets.com
PRESS CONTACT:
Karen Marotta
Greystone
212-896-9149
Karen.Marotta@greyco.com
