Greystone, a national provider of multifamily and healthcare mortgage loans, provided a $32,616,000 HUD loan to refinance a 480-bed skilled nursing facility in Bronx, NY.
The transaction was originated by Fred Levine, a senior mortgage originator at the firm.
The $33 million in FHA financing was provided for Bay Park Center for Nursing and Rehabilitation, a nursing home and rehabilitation center located on Co-op City Boulevard.
Greystone previously provided financing for 801 Co-op City Blvd’s acquisition of the facility with a bridge loan in 2008 and permanent HUD loan in 2009, now refinanced with this latest transaction.
T he facility is part of the SentosaCare Network in New York.
Betsy Vartanian, head of FHA lending at Greystone. “Refinancing in today’s market will certainly benefit Bay Park Center for Nursing and Rehabilitation and its residents for years to come.”