Greystone provided $71,920,000 in financing for the acquisition and refinance of a 874-bed skilled nursing facility portfolio spanning North Carolina and Kentucky.
The financing was originated by mnaging director Fred Levine.
The firm provided short-term bridge financing for seven skilled nursing properties, six of which are located in North Carolina.
The bridge loan terms include a 24-month payment period with two six-month extensions, and no pre-payment penalty.
The borrower intends to transition
the short-term bridge financing to permanent, low- and fixed-rate FHA-insured financing through Greystone’s bridge-to-HUD
process.
“Our flexible bridge program coupled with our position as the #1 HUD lender in the country provides borrowers with more certainty of execution than they require to succeed.
“We are thrilled to have helped our client complete this transaction to expand their SNF portfolio,” said Levine.
