Greystone Provides $50 Million in Bridge Financing for 6-Property Skilled Nursing Portfolio in Ohio

New York, New York, UNITED STATES


NEW YORK, Oct. 04, 2021 (GLOBE NEWSWIRE) -- Greystone, a leading national commercial real estate finance company, has provided a $50,100,000 bridge loan for the acquisition of a six-property skilled nursing portfolio in Ohio. The transaction was originated by Fred Levine of Greystone.

The portfolio, totaling 719 beds, is secured by a floating rate, interest-only loan funded through our uniquely non-recourse bridge loan program. Greystone intends to move the financing to a permanent exit with a HUD-insured loan as soon as possible

The portfolio includes:

  • A 150-bed community in Berea, OH;
  • A 130-bed community in Cleveland, OH;
  • A 150-bed community in Cleveland, OH;
  • A 99-bed community in Kent, OH;
  • An 85-bed community in Clyde, OH; and
  • A 90-bed community in Waterville, OH.

“I may be getting old, but the excitement of helping quality operators acquire facilities so they can provide amazing care for their residents never gets old,” said Mr. Levine.

About Greystone
Greystone is a private national commercial real estate finance 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. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates. For more information, visit www.greystone.com.

PRESS CONTACT:
Karen Marotta
Greystone
212-896-9149
Karen.Marotta@greyco.com