NEW YORK, March 03, 2022 (GLOBE NEWSWIRE) — Greystone, a leading national commercial real estate finance company, provided a $24,750,000 Freddie Mac Optigo® loan to refinance a 70-unit senior housing property in Mashpee, Massachusetts that includes 10% of the units designated affordable housing by the Cape Cod Housing Authority. The transaction was handled by Shailini Nehra, Managing Director at Greystone, on behalf of Northbridge Companies.
The $24,750,000 Freddie Mac fixed-rate, non-recourse financing carries a 10-year term and 30-year amortization. Built in 2018, Laurentide at Mashpee Commons in Barnstable County includes studio, one-, and two-bedroom units and offers assisted living and memory care services. The community, managed by New England-based owner / operator Northbridge Companies, features a full physical and occupational therapy gym, movie theatre, bistro, café, a large outdoor patio, and landscaped walking paths. Residents also enjoy salon and barber shop services, chef-prepared meals, life enrichment, and wellness programming.
“At Greystone, we are dedicated to helping clients realize their vision for their properties – our extensive lending platform means we bring the right resources to bear on any project,” said Cary Tremper, head of Greystone’s Senior Housing Capital Markets Team. “We are driven by our commitment to meeting the financing needs of the senior housing space, and it was our pleasure to work with Northbridge on this transaction.”
“Northbridge is committed to creating environments where residents can be inspired to live well and love life,” said Mr. James Coughlin, CEO, Northbridge Companies, which develops, owns, and manages vibrant senior living communities throughout New England. “Our Greystone team’s passion for what we do made them a true partner on this transaction and we look forward to working with them again in the future.”
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 Northbridge Companies
Northbridge Companies develops, owns, and manages vibrant and engaging senior living communities throughout New England. As a privately owned company with a philosophy of living well and loving life, Northbridge offers innovative and inspired senior living solutions for today’s senior. Northbridge’s thorough market knowledge, combined with solid financial strength, has enabled Northbridge Companies to grow from a single community in Plymouth, Massachusetts to a portfolio of nineteen communities (Andover, MA; Burlington, MA; Brunswick, ME; Dartmouth, MA; Hallowell, ME; Marblehead, MA; Mashpee, MA; Milford, NH; Wayland, MA; Needham, MA; Newburyport, MA; Plymouth, MA; Tewksbury, MA; Torrington, CT; Wells, ME; Westbrook, ME) serving over 1,300 residents. For more information visit: northbridgecommunities.com.