{"id":3176,"date":"2021-06-29T08:19:37","date_gmt":"2021-06-29T13:19:37","guid":{"rendered":"https:\/\/1reason.com\/re\/greystone-provides-7-3-million-in-hud-insured-financing-for-assisted-living-community-in-montana\/3176\/"},"modified":"2021-06-30T03:19:38","modified_gmt":"2021-06-30T08:19:38","slug":"greystone-provides-7-3-million-in-hud-insured-financing-for-assisted-living-community-in-montana","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/greystone-provides-7-3-million-in-hud-insured-financing-for-assisted-living-community-in-montana\/3176\/","title":{"rendered":"Greystone Provides $7.3 Million in HUD-Insured Financing for Assisted Living Community in Montana"},"content":{"rendered":"
The financing was originated by Scott Thurman and Leor Dimant of Greystone on behalf of Inspired Healthcare Capital, a repeat client, who acquired the property in March 2020. <\/p>\n

The $7,360,000 HUD-insured Section 223(f) financing carries a 35-year term and 35-year amortization, along with a low, fixed interest rate, and is a permanent take-out of short-term bridge financing provided by Greystone. Built in 2001, The Lodge Senior Living Community<\/strong> offers full-service amenities for its residents include dining, transportation, laundry, housekeeping, and events and entertainment. The property is located within two miles of multiple major hospitals and healthcare systems, including Great Falls Clinic Hospital and Surgery Center and Benefits Health System \u2013 East Campus.<\/p>\n

Currently, the facility is occupied and configured with 70 beds in 70 units ranging from studio, one- and two-bedrooms, and with proceeds from the HUD financing, some of the property\u2019s two-bedroom units will be converted into studios to accommodate high demand for that unit type.<\/p>\n

\u201cThe bridge-to-HUD process for healthcare property investors eases many of the challenges related to timing with acquisitions and FHA financing, and Greystone\u2019s seamless process sets up the borrower for a permanent, 35-year loan with a short-term lending cushion,\u201d said Mr. Thurman. \u201cThe higher proceeds afforded by the FHA financing is also beneficial for borrowers who want to make capital expenditures and invest in the property for the long-term.\u201d<\/p>\n

About Greystone<\/strong>
Greystone is a 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<\/a>.<\/p>\n

PRESS CONTACT:<\/strong>
Karen Marotta
Greystone
212-896-9149
Karen.Marotta@greyco.com<\/a><\/p>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

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NEW YORK, June 08, 2021 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance company, has provided a $7.3 million HUD-insured loan to refinance a 78-bed assisted living community in Great Falls, Montana.<\/p>\n<\/div>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/3176"}],"collection":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/comments?post=3176"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/3176\/revisions"}],"predecessor-version":[{"id":3191,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/3176\/revisions\/3191"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=3176"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=3176"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=3176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}