A huge skilled nursing facility on Long Island, New York just refinanced through HUD, with the help of Fred Levine of Greystone. Totaling 588 beds, this facility provides clinical care, physical, occupational and speech therapies, amputee rehabilitation, and pulmonary, ventilator, cardiac and memory care. It also received multiple significant renovations to its five inter-connected buildings.
In June 2016, the borrower had obtained a high-leveraged bridge loan also from Greystone to finance its purchase of the facility. To take out that loan, Mr. Levine arranged $78.53 million in HUD financing, with a 30-year term and amortization schedule.