Greystone Secures $96M HUD Loan for Skilled Nursing Portfolio
Separately, Greystone secured a $48 million Freddie Mac loan to refinance a seniors housing property on behalf of Harbert Seniors Housing Fund I.
NEW YORK—Greystone has provided $96 million in total HUD-insured financing on a portfolio of 11 Kentucky skilled nursing facilities, totaling 1,122 beds.
The 11 separate FHA loans, ranging from $3.6 million to $14.5 million, carry 35-year terms and 35-year amortizations. They have refinanced a bridge loan provided by Greystone for the acquisition of the facilities in 2017.
The transaction was originated by Fred Levine of Greystone. In prepared remarks, he said that Greystone’s bridge-to-HUD capabilities allow skilled nursing investors to focus on completing an acquisition with a permanent exit plan already in place.”
Separately, Greystone secured a $48 million Freddie Mac loan to refinance a seniors housing property in Peachtree Corners, GA, on behalf of Harbert Seniors Housing Fund I. The 10-year senior mortgage secures Village Park at Peachtree Corners, a 132-unit community providing independent living, assisted living, and memory care services.