chi-DavidVarca (4) David Varca of Greystone
CHICAGO—Greystone, a real estate lending, investment and advisory company, has just hired David Varca as its managing director for healthcare finance. Based in Chicago, Varca will report to Mordecai Rosenberg, head of Greystone's FHA lending group. In his new role, Varca originate FHA-insured and bridge loans, with an emphasis on providing financing for skilled nursing facilities nationwide. “Greystone has been originating skilled nursing FHA-insured and bridge loans from many years,” Rosenberg tells GlobeSt.com. “With buy/sell deal volume in the skilled nursing sector continuing to be very strong, along with Greystone's and David's expertise in this sector, we see tremendous opportunity for us to provide creative and complete financing solutions to our clients.” Varca brings to Greystone more than 15 years of healthcare lending experience. Prior to Greystone, he worked at Ares Management, LP, where he served as principal and was responsible for developing and managing senior housing and long term care balance sheet lending for the company. Before Ares, Varca was senior vice president and national head of senior housing and long term care banking at Popular Community Bank. Prior to that, he served as client manager at Bank of America, vice president at LaSalle Bank, and assistant vice president at Bank One, among other positions. Rosenberg expects to see a lot of growth in this portion of Greystone's work, especially as it pertains to skilled nursing facilities. “FHA is one of the few sources of permanent financing for skilled nursing facilities available in the market today, so we expect to see ongoing demand,” he says. “Buyers of facilities who are interested in maximizing leverage continue to be large consumers of our bridge-to-HUD loan product. “In addition, with much of the industry transitioning to an affordable care organization model, in which the census of a facility will be driven more and more by the quality of the outcome provided as well as the re-hospitalization rate, we are seeing older facilities utilize the FHA programs to finance building upgrades and/or additions to existing facilities.”
chi-DavidVarca (4) David Varca of Greystone
CHICAGO—Greystone, a real estate lending, investment and advisory company, has just hired David Varca as its managing director for healthcare finance. Based in Chicago, Varca will report to Mordecai Rosenberg, head of Greystone's FHA lending group. In his new role, Varca originate FHA-insured and bridge loans, with an emphasis on providing financing for skilled nursing facilities nationwide. “Greystone has been originating skilled nursing FHA-insured and bridge loans from many years,” Rosenberg tells GlobeSt.com. “With buy/sell deal volume in the skilled nursing sector continuing to be very strong, along with Greystone's and David's expertise in this sector, we see tremendous opportunity for us to provide creative and complete financing solutions to our clients.” Varca brings to Greystone more than 15 years of healthcare lending experience. Prior to Greystone, he worked at Ares Management, LP, where he served as principal and was responsible for developing and managing senior housing and long term care balance sheet lending for the company. Before Ares, Varca was senior vice president and national head of senior housing and long term care banking at Popular Community Bank. Prior to that, he served as client manager at Bank of America, vice president at LaSalle Bank, and assistant vice president at Bank One, among other positions. Rosenberg expects to see a lot of growth in this portion of Greystone's work, especially as it pertains to skilled nursing facilities. “FHA is one of the few sources of permanent financing for skilled nursing facilities available in the market today, so we expect to see ongoing demand,” he says. “Buyers of facilities who are interested in maximizing leverage continue to be large consumers of our bridge-to-HUD loan product. “In addition, with much of the industry transitioning to an affordable care organization model, in which the census of a facility will be driven more and more by the quality of the outcome provided as well as the re-hospitalization rate, we are seeing older facilities utilize the FHA programs to finance building upgrades and/or additions to existing facilities.”

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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.

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