Greystone Funds Harbert’s Acquisition of California Community

Harbert Seniors Housing Fund II, L.P. has acquired a 134-unit senior living community in Rocklin, California thanks to a Fannie Mae financing arranged by Greystone. Built in 2015 and operated by Merrill Gardens, this community operated with independent living, assisted living and memory care units, with a licensed capacity of 142 residents.

Merrill Gardens will be a joint venture partner in the community, in addition to continuing as operator. The $37 million structured adjustable rate mortgage loan comes with a 10-year term and five years of interest only.

 

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