After working to close a $16.5 million HUD refinance for a 216-bed skilled nursing facility in Dunkirk, New York (Buffalo MSA) last month, Greystone’s Fred Levine closed another HUD loan for another large New York SNF.
Located in Suffern, on the border with New Jersey, the facility consists of 203 beds and is the largest subacute care facility in Rockland County. Situated on six acres, it offers orthopedic rehab, cardiopulmonary rehab, wound care, concierge services and veterans programs, all under the management of CareRite Centers.
To help fund renovations, and provide meaningful debt service savings, Mr. Levine arranged a $23.52 million HUD loan, with a fully amortizing 33-year term.
