NEW YORK, Jan. 08, 2019 (GLOBE NEWSWIRE) -- Greystone Real Estate Advisors announced it closed the sale of a two-property senior living portfolio in Rhode Island on December 20, 2018 for an undisclosed price. Mike Garbers and Cody Tremper of Greystone Real Estate Advisors represented the seller in the transaction, a publicly-traded REIT. The buyer was a partnership of GMF Capital, a New York-based private equity firm, and Meridian Senior Living, LLC, who will operate the properties.
The properties, Chapel Hill in Cumberland and Smithfield Woods in Smithfield, both located in the Providence MSA, offer assisted living, memory care, and skilled nursing units. Built between 1989 and 1999, the properties have a total of 272 units.
The Greystone Real Estate Advisors team leverages its extensive experience in providing expertise on the disposition or acquisition of seniors housing, including age-restricted communities, independent living, assisted living, memory care, and skilled nursing facilities.
About Greystone Real Estate Advisors, Inc.
Greystone Real Estate Advisors, Inc. provides services in sales and acquisitions of seniors housing property types including independent living, assisted living, memory care and skilled nursing, as well as affordable and multifamily properties. The team offers a full spectrum of advisory services including debt, acquisition, and investment sales to funds, private equity groups, regional and national operators, not-for-profit owners and healthcare REITs. For more information, visit www.greycoadvisors.com.
About Greystone
Greystone is a real estate lending, investment and advisory company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Our range of services includes commercial lending across a variety of platforms such as Fannie Mae, Freddie Mac, CMBS, FHA, USDA, bridge, mezzanine, and proprietary loan products. Loans are offered through Greystone Servicing Corporation, Inc., Greystone Funding Corporation and/or other Greystone affiliates. For more information, visit www.greyco.com.
PRESS CONTACT:
Karen Marotta
Greystone
212-896-9149
Karen.Marotta@Greyco.com