Greystone Finances Affordable Senior Property
Greystone has provided a fixed-rate loan for a senior housing development near the Cape Cod shore.
Greystone has provided a $24.8 million Freddie Mac Optigo loan to refinance Laurentide at Mashpee Commons in Mashpee, Mass.
Ten percent of the units at the four-year-old 70-unit senior housing community have been designated affordable by the Cape Cod Housing Authority. Greystone managing director Shailini Nehra handled the transaction on behalf of owner Northbridge Companies. The Freddie Mac fixed-rate, non-recourse financing carries a 10-year term and a 30-year amortization.
Providing independent living, assisted living and memory care housing, the senior housing community features studio, one- and two–bedroom residential units. Among the more notable common-area amenities is a full physical and occupational therapy gymnasium. Residents benefit from chef-prepared meals, as well as life enrichment and wellness programming.
Bearing an address of 64 Great Neck Road South, Laurentide at Mashpee Commons is situated in Barnstable County and located just off Route 28. The area features a number of restaurants and health care facilities. The property is situated minutes from Mashpee Commons and the Cape Cod shoreline. Nearby natural areas for recreation include the Mashpee River Woodlands, the Mashpee National Wildlife Refuge and John Austen Forest.
Northbridge Companies develops, owns and manages senior living communities throughout New England. It has grown from a single Plymouth, Mass. community to a portfolio of 19 properties.