Greystone is back at it again, this time providing $36.5 million in HUD financing for three skilled nursing facilities in North Carolina. The deal takes out acquisition bridge debt that Greystone had previously arranged on behalf of the borrower for these facilities, using the firm’s non-recourse bridge lending program. Fred Levine originated the transactions.
Carver Living Center in Durham is a 232-bed facility which offers both long and short-term care, as well as a memory care unit. This facility received $17.16 million in financing that carries a fixed, low interest rate over a 30-year term. It was built in 1990.
Willow Ridge Rehabilitation and Living Center, located in Rutherfordton and built in 1977, also features long-term, short-term and memory care units with a total of 136 skilled nursing beds. It received $11.4 million in financing that carries a 30-year term with a low interest rate.
The Greens at Pinehurst Rehabilitation & Living Center, built in 1991 and renovated in 2005, is a 120 bed SNF in Pinehurst. It was refinanced with $7.9 million over a 30-year term.
These financing plans follow a busy second quarter for Greystone, after it placed financing for 16 of the 24 properties that were owned by both Gallaher Companies and Healthpeak Properties. This was in addition to financing secured for an assisted living facility in Montana and a CCRC in Oregon.
