NEW YORK, Oct. 30, 2019 (GLOBE NEWSWIRE) -- Greystone, a leading national commercial real estate lending, investment, and advisory company, has provided a $43,980,000 loan for the acquisition of a 207-unit seniors housing property in Daly City, CA. Cary Tremper originated the financing on behalf of the sponsor, Senior Resource Group (SRG), and its partners.
Located in the San Francisco MSA and constructed between 2008 and 2011, the acquired asset, Peninsula Del Rey (formerly known as Monarch Village), has been managed by SRG since 2012. The property comprises a four-story building over a two-level parking garage with independent living and assisted living units.
“The San Francisco market has seen strong – and growing – demand for seniors housing, and Senior Resource Group has built a reputation for quality sponsorship and management across the sector,” said Cary Tremper, head of Greystone’s seniors housing finance team.
SRG develops, owns and/or manages 32 seniors housing communities in Arizona, California, Florida, Georgia, Oregon, and Washington, comprising 5,852 units.
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 and proprietary loan products. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greyco.com.
PRESS CONTACT:
Karen Marotta
Greystone
212-896-9149
Karen.Marotta@greyco.com