CHICAGO—As reported in GlobeSt.com, the thousands of participants in last week's National Investment Center's National Conference in Chicago were relatively upbeat about the prospects for senior housing in the coming year.
“This is the first time we've seen robust construction in the last four years,” says Neal Raburn, the Atlanta-based managing director of senior housing finance for Greystone, who spoke with GlobeSt.com on what's ahead. Greystone arranges debt for borrowers by working with agency partners such as Fannie Mae, Freddie Mac and the FHA. The New York-based company also offers its own capital for bridge and mezzanine loans.
After the recession, banks pulled back from financing development, but Raburn says things started to change about 18 months ago. “That's when we saw the return of the banks' appetite. I”m not sure any asset class has rebounded like multifamily or senior housing.”
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
