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Green Park's Latest Deal Highlights New Focus

BETHESDA, MD-The combination fixed and floating rate credit facility will allow Benchmark to renovate some of the facilities in its 19-asset portfolio.

By Erika Morphy | Updated on January 10, 2007

(To read more on the debt and equity markets, click here.)

BETHESDA, MD-Green Park Financial has closed a $460-million credit facility consisting of both fixed and floating rate debt to recapitalize a 19-asset, 1,988-bed senior housing portfolio. The portfolio owners, a joint venture managed by Wellesley Hills, MA-based Benchmark Assisted Living, LLC, will use the proceeds to renovate some of the independent and assisted living facilities, pay off the original investors in the transaction and eventually bring in additional assets to the portfolio, Russ Ming, assistant vice president at Green Park tells GlobeSt.com.

The 1,499,299-sf portfolio has assets located in Brookfield, South Windsor, Waterbury, Meriden, East Haven, Middletown, Avon, Hamden, Milford, Trumbull, Woodbridge and Rocky Hill, CT; Providence and Warwick, RI; Mansfield, Agawam, North Chelmsford, Quincy and Danvers, MA.

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