NEW YORK, Dec. 16, 2021 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance company, placed $30.1 million in financing for the construction of a 159-unit active adult community in Holly Springs, North Carolina. The transaction was handled by Greystone’s Senior Housing Capital Markets Team, on behalf of The Aspens at Holly Springs, LLC.
The land acquisition and construction financing was provided by a regional bank in the Southeast. The planned property will include 159 units in an active adult complex located on 7.82 acres in Wake County. Amenities at the property will include an outdoor swimming pool, modern lounge and bistro, activity room, fitness room and wellness center, movie theater, and multiple common areas and concierge services.
“We were thrilled to once again help our client find financing to meet their goal of developing Class A senior housing, adding to the successful portfolio of five communities and one more in development, with a total asset value of $200 million,” said Cary Tremper, head of Greystone’s Senior Housing Capital Markets Team. “From construction to permanent financing, Greystone is able to find the best fitting capital solution for property investors.”
“Greystone’s team is an astute and reliable resource for any capital need in the senior housing space, whether developing or refinancing, and we are thrilled they were able to help us once again for this latest transaction, which will bring high-quality active adult housing to Holly Springs, a growing and dynamic suburb of Raleigh, NC,” said Barry Metcalf, Founder and CEO of Aspens Senior Living.
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 Aspens Senior Living, LLC
Based in Fort Worth, Texas, Aspens Senior Living, LLC., (Aspens) owns and develops active adult communities that are committed to helping residents live life to the fullest – offering luxurious amenities, a dynamic roster of activities and the convenience of maintenance-free living. To date, the company has built communities in Texas, Arizona, North Carolina and South Carolina. Information about communities developed by Aspens can be found at AspensSeniorLiving.com
PRESS CONTACT:
Karen Marotta
Greystone
212-896-9149
Karen.Marotta@greyco.com
