NEW YORK, July 07, 2022 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance company, placed a total of $116,000,000 in bank financing to refinance a 383-unit senior housing property in Lincolnwood, Illinois. The transaction was originated by Cary Tremper and Matt Miller of Greystone, on behalf of SBLP Senior Living Fund I.
The Carrington at Lincolnwood is a continuum of care facility in Cook County that offers 251 independent living, 88 assisted living and 44 memory care units. The Class A+ property opened in April 2018, and includes studio, one- and two-bedroom units. Amenities at the pet-friendly property include private dining, two libraries, game room, exercise room, indoor pool, activity room, sports bar, salon, and terraces and outdoor patios, courtyards and walking paths.
“Our team is committed to solving our clients’ capital needs, considering every available option across our extensive platform to find the right fit,” said Mr. Miller. “We are passionate about senior housing and were thrilled to work with sponsors that are dedicated to communities that can offer a superior quality of life and care to this demographic.”
“Greystone was a true partner on this transaction and crafted for us a solution that ensures the success and viability of this property for years to come,” said Patrick McGonigle, CEO of Harbert South Bay.
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.