Staten Island Skilled Nursing Facility Lands $21M Refi

The new, HUD-insured permanent loan provided by Greystone for the 238-bed skilled nursing facility represents a permanent exit from the prior interim financing.
Golden Gate Rehabilitation & Health Care Center

Greystone has provided a $20.7 million HUD-insured permanent refinancing loan for Golden Gate Rehabilitation & Health Care Center in Staten Island, N.Y. The 238-bed skilled nursing facility is affiliated with the SentosaCare group.

Two years prior, Greystone also arranged a bridge loan for the property. The new FHA financing, originated by Greystone Managing Director Fred Levine, has a 35-year term and amortization period at a low, fixed rate and represents a permanent exit from the interim loan.

The facility is located 191 Bradley Ave., near Interstate 278, in the Willowbrook neighborhood. Golden Gate provides short-term rehabilitation, long-term residential care, as well as physical, occupational and speech therapy. Neuro and orthopedic rehabilitation is also available at the Medicare 5 star rated facility.

Last month, another senior housing community in N.Y. received HUD financing. Birchwood Suites in Long Island features 92 beds and includes assisted living, memory care and independent living units.

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