NEW YORK, Sept. 07, 2021 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance company, placed $35.9 million in construction financing for a 150-unit independent living, assisted living, and memory care community in Chesterfield, Missouri. The transaction was handled by Greystone’s Seniors Housing Capital Markets Team, including Matt Miller and Tyler Armstrong, on behalf of a joint venture between Shelbourne Healthcare and Cedarhurst.
The construction financing, closed with a large regional bank, includes a 5-year term. The planned property will include 37 Assisted Living units, 17 Memory Care units, and 96 Independent Living units.
“Whatever our clients’ capital needs may be, we strive to find a solution to help them meet their goals,” said Cary Tremper, head of Greystone’s Seniors Housing Capital Markets Team. “From construction to long-term, permanent financing, we are able to find provide or place the best fitting capital solution. We are thrilled to have worked on this new project with Shelbourne and Cedarhurst.”
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.