Greystone has arranged $71.9 million in financing for the acquisition and refinancing of a skilled nursing portfolio spread throughout North Carolina and Kentucky. Managing Director Fred Levine originated the financing on behalf of the unnamed borrower.
The short-term bridge financing was provided for seven skilled nursing facilities: six in North Carolina and one in Kentucky. Loan terms include a 24-month payment period with two six-month extensions and no pre-payment penalty. According to Greystone, the borrower plans to shift the short-term bridge financing to permanent, low- and fixed-rate FHA-insured financing through the company’s bridge-to-HUD program.
Late last year, Levine arranged a $23.9 million HUD-insured refinancing loan for a skilled nursing facility in the Bronx, N.Y., and a $100 million HUD-insured financing for two skilled nursing facilities in Buffalo, N.Y.
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